Reference no: EM132894402
Problem 1: Which of the following accounts has a normal credit balance?
a) Depreciation Expense.
b) Owner's Drawing.
c) Accumulated Depreciation.
d) Accounts Receivable.
Problem 2: What are the required financial statements?
a) balance sheet, income stmt., stmt. of cash flows, stmt. of owners equity
b) assets, liabilities, owner's equity, revenue, expense
c) balance sheet, stmt. Of income and loss, cash stmt., stmt. Of assets
d) balance sheet, stmt. Of cash loss, stmt. Of profit, stmt. Of equity
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