Which of the following about debits and credits is false, Accounting Basics

Assignment Help:

Which of the following about debits and credits is false?
A. Credits increase revenues, gains and bonds payable
B. Debits increase salaries expense and prepaid expenses (prepayment assets
C. Credits increase dividends payable, but debits increase dividends declared
D. Debits increase assets.
E. Credits increase liabilities, expenses and losses

Related Discussions:- Which of the following about debits and credits is false

Briefly explain the term depreciation, Question: Part A: Briefly exp...

Question: Part A: Briefly explain the term "depreciation" and give three reasons why do we need to provide for depreciation on fixed assets during a financial year. Part

What do you mean by consigned goods, Q. What do you mean by consigned goods...

Q. What do you mean by consigned goods? FOB destination, freight collect - Seller acquires freight charges and buyer initially pays freight charges. Buyer deducts freight accus

Weakness in internal control of procedure for purchase, You have been engag...

You have been engaged internal auditor by the management of Alden proprietary limited to review its internal control over the purchases, receipt, storage and issue of raw material.

Instalments basis of revenue recognition, Q. Instalments basis of revenue r...

Q. Instalments basis of revenue recognition? When accumulating the selling price of goods sold in monthly or annual instalments and considerable doubt exists as to collectabili

What do you mean by not-for-profit organizations, Q. What do you mean by No...

Q. What do you mean by Not-for-profit organizations? Not-for-profit organizations such like charities, fraternities, churches, and universities need accountants to record and a

Determine the concept of closing entries, Determine the concept of Closing ...

Determine the concept of Closing entries-(REID) 1) Close Sales account and other income statement accounts with credit balances to Income Summary. 2) Close each expense ac

Please explain i''m so lost chandler ltd., Please explain I'm so lost ...

Please explain I'm so lost Chandler Ltd. estimates sales for the second quarter of 2014 will be as follows. Month Units April 2,550 May 2,475 June 2,390 The t

What are the elements of accounting assests, What are the elements of accou...

What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g

#, #c

Sap memory and abap memory, Difference between SAP MEMORY and ABAP MEMORY? ...

Difference between SAP MEMORY and ABAP MEMORY? Ans) SAP Memory: Global, user-related memory that enlarges beyond transaction limits. Access to the SAP memory is through SPA/GPA

Write Your Message!

Name

Email id

Message

Verfication Code

User Account

All Pages