Domino Co. purchased land and paid the full purchase price in cash. The journal - 17670

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3.

The right side of a T-account is known as the

 

Equity side.

 

Claims side.

 

Debit side.

 

Credit side

4.

Domino Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a:

 

debit to Land and a credit to Cash.

 

debit to Cash and a credit to Land.

 

credit to Land and a credit to Cash.

 

debit to Land and a debit to Cash.

5.

Credit entries

 

increase the common stock account.

 

increase asset accounts.

 

decrease liability accounts.

 

all of these.

6.

Which of the following is increased with a debit?

 

Consulting Revenue

 

Supplies Expense

 

Accounts Payable

 

Common Stock

 

7.

Which of the following is increased with a credit?

 

Salaries Expense

 

Prepaid Rent

 

Dividends

 

Salaries Payable

 

8.

Which of the following is decreased with a debit?

 

Accounts Payable

 

Accounts Receivable

 

Prepaid Rent

 

Rent Expense

 

9.

Which of the following is decreased with a credit?

 

Unearned Service Revenue

 

Consulting Revenue

 

Accounts Payable

 

Prepaid Rent

 

10.

Which account is increased by a credit to the account?

 

Accounts Receivable

 

Prepaid Rent

 

Service Revenue

 

Supplies

 

 

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