Debits always decrease which accounts? O Liabilities, Revenue and Common Stock Assets, Liabilities and Common Stock Expenses, Assets and Dividends O Liabilities, Expenses and Common Stock
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- Which of the following is not a way to manage earnings? A. Change the method for bad debt estimation. B. Change the figure for the uncollectible percentage. C. Under the balance sheet aging method, change the past-due categories. D. Change the dates of common stock issuance.Sales revenue is reported in the stockholder’s equity section of the balance sheet? True/false. How does the issuance of common stock affect the accounting equation? a) Increases assets and decreases liabilities b) Increases assets and increases equity c) Increases assets and increases liabilities d) Increases liabilities and decreases equity
- Earnings that are not paid as dividends to stockholders and have cumulative amount are classified as A. non-paid earnings B. common earnings C. retained earnings D. preferredearningsWhich of the following regarding retained earnings is false?a. Retained earnings is increased by net income.b. Retained earnings is a component of stockholders’equity on the balance sheet.c. Retained earnings is an asset on the balance sheet.d. Retained earnings represents earnings not distributed tostockholders in the form of dividendsExplain how the Du Pont system of analysis breaks down return on assets. Also explain how it breaks down return on stockholders’ equity.
- When expenses exceed revenues in a given period,a. Stockholders’ equity will not be impacted.b. Stockholders’ equity will be increased.c. Stockholders’ equity will be decreased.d. One cannot determine the impact on stockholders’equity without information about the specific revenuesand expensesWhich of the following groups of accounts increase with a credit? a.common stock, revenues, expenses b.liabilities, common stock, revenues c.assets, common stock, revenues d.none of theseWhen stock is purchased with cash and held in treasury,what is the impact on the balance sheet equation?a. No change—the reduction of the asset Cash is offsetwith the addition of the asset Treasury Stock.b. Assets decrease and stockholders’ equityincreases.c. Assets increase and stockholders’ equitydecreases.d. Assets decrease and stockholders’ equitydecreases.
- Which of the following stockholders' equity accounts follows the same debit and credit rules as liabilities? a.dividends accounts only b.revenue, common stock, and retained earnings accounts c.expense and dividends accounts d.expense accounts onlyA stock splita. has no effect on total stockholders’ equity.b. increases assets and stockholders’ equity.c. increases assets and decreases stockholders’ equity.d. decreases assets and increases stockholders’ equityWhat would be the impact on the accounting equation when a company acquires treasury stock? Increase assets and increase stockholders' equity. Decrease assets and decrease stockholders' equity. Decrease assets and increase stockholders' equity. No effect on the accounting equation.