Indicate all correct answers. Dividends:a. Decrease owners’ equity.b. Decrease net income.c. Are recorded by debiting the Dividend account.d. Are a business expense.

Q: Each situation below relates to an independent company’s Owners’ Equity. Calculate the missing…

A: Owners equity is the total amount attributable or belonging to the owners of the company. Net Income…

Q: Which of the following is False about the left side of a T - account ? A. It reflects a decrease…

A: This Numerical has covered the concept of Normal Balance of Accounts and T-Accounts also. The left…

Q: When the payment is made to creditors, it would result in which among the following? a. decrease…

A: Creditors are the persons to whom the entity has to pay some due money.

Q: Utility Expense.

A: If income and Liabilities are increased then it will be credited

Q: 1. What does the beginning balance of retained earning indicate? And what does the following that is…

A: Retained earnings are the accumulated earnings of the business that is fully attributable to the…

Q: Revenue, expense, and dividend accounts accumulate changes in owners’ equity during an accounting…

A: Revenue is expressed as the principal source of income for any enterprise. It is basically the…

Q: When the Dividends account increases, how is the Accounting Equation impacted? O Decrease…

A: Dividends are the distributions that a company makes out of the earned profits to its shareholders…

Q: Debits always decrease which accounts? O Liabilities, Revenue and Common Stock Assets, Liabilities…

A: Debit and credit are the two aspects of the double entry system. These are used to record the dual…

Q: Indicate whether each of the following types of transactions will either (a) increase stockholders'…

A:

Q: In the language of accounting, the term “debit” always means a. Increase. b. Decrease. c. Left-hand…

A: In the accounting terms, Debit means left hand side of the account.

Q: Match the transaction to the correct financial statement effect. + indicates increase, (indicates…

A: Accouting Formula: Assets = Liabilities + Capital

Q: The effects of paying salaries for the current period are to:a. increase assets and increase stock-…

A: Salary is an expense for a company and an obligation due towards the employees working in that…

Q: Indicate the effect that each transaction/event listed here will have on the financial ratio listed…

A: Introduction Financial ratios are used for the interpretation of the financial and results of the…

Q: Which of the following causes the accounting equation not to balance? a. Increase assets; increase…

A:

Q: ue? a.The balance in the revenue accounts after closing agrees with the revenue shown on the income…

A: d) The balance of Retained earnings after closing agrees with the amount reported on the statement…

Q: The Dividends account a) appears on the income statement along with the expenses of the business. b)…

A: Dividend is actually what is  paid to share holder. it is is distribution of profit that company…

Q: Which of the following transactions does NOT affect total assets? O New equipment is purchased on…

A: The accounting equation refers to the equation of the balance sheet. It is based on the method of…

Q: Which of the following is false regarding the balancesheet?a. The accounts shown on a balance sheet…

A: Answer: c. The balance sheet summarizes the net changes in specific account balances over a period…

Q: The statement of changes in financial position was designed to enable financial statement a) Where…

A:

Q: If Income Summary has a debit balance after revenues and expenses have been closed into it, the…

A: Income summary account is prepared to adjust the expenses and revenues which can not be entered to…

Q: Which of the following direct effects on the accounting equation is not possible as a result of a…

A: Accounting equation: Assets = Liabilities + Shareholder's Equity

Q: Net Income: A) Decreases equity. B) Represents the amount of assets stockholders put into a…

A: Net income — also referred to as net profit, net earnings or the bottom line — is the amount an…

Q: On April 1, Sage Hill Inc. was established. These transactions were completed during the month.…

A: Analysis of transactions  A transaction can be defined as any economic activity pertinent to a…

Q: Indicate all of the following statements that correctlydescribe net income. Net income:a. Is equal…

A:

Q: If a business has a net loss for a fiscal period, the journal entry to close the Income Summary…

A: Solution: For loss, income summary have a debit balance and in order to close income summary,…

Q: Decreases equity. Represents the amount of assets owners put into a business. Equals assets minus…

A: Income statement is the financial statement that helps the users to know the profitability position…

Q: Which among the following transactions would have no effect on equity? O a. Drawings made by the…

A: Equity is the amount of investment made by owner of a company.it has effect of profit or loss and…

Q: Which of the following statements is not true? O a. Expenses increase stockholders' equity. O b. The…

A: The accounting equation states that assets equal to sum of liabilities and equity.

Q: dicate in which financial statement each item would most likely appear, by selecting income…

A: Solution: Under income statement, revenue and expense accounts will appear. Under balance sheet,…

Q: If an expense is incurred but not paid, then a) Liabilities will increase b) Stockholder's equity…

A: As per the guidelines, only one question is allowed to be solved. Please resubmit the question…

Q: 1) Ifa business had a net loss for the year, what would be the closing entry to close income summary…

A: Since you have asked multiple questions, we will solve the first question for you. If you want any…

Q: Dividends

A: Option "a" is wrong because the amount , the owner has taken out of business for personal use is…

Q: Which of the following debit and credit rules is correct?a. Increases in assets and liabilities are…

A: An asset is a resource of the firm having economic value and is expected generate positive cash…

Q: Blecker Corp. made cash sales to customers. What effect does this transaction have on the accounting…

A: Accounting equation: Total assets = Liabilities + Equity

Q: Owner's equity can be increased through _____. a. withdrawals by the owner b. purchase of assets by…

A: Solution: Withdrawl by owner decrease the owner's equity Purchase of assets by cash do not affect…

Q: Equity is not affected by all a. Cash receipts b. Revenue c. Dividends d. Expenses

A: a. Cash receipts like receipts from the sale of assets or from accounts receivables do not affect…

Q: Net loss: O A. Decreases equity. O B. Equals assets minus liabilities. O C. Represents the amount of…

A: The equity includes the capital that relates to shareholders.

Q: It represents the cash or other assets withdrawn from the business by the owner for the personal…

A: Drawings represents the cash or other assets withdrawn from the business by the owner for the…

Q: We can say that the business is in profit, when: Select one: a. Income exceeds Liabilities b. Assets…

A: Following is the answer to the question

Q: .Expenses represent a reduction in ___. A.assets B.revenue C.liability D.equity 2.You are presented…

A: Assets and liabilities and equity are part of balance sheet, revenue is part of income statement

Q: Suzanne knows that an increase to an expense reduces retained earnings (a stockholders’ equity…

A: Consistent information :         Any accounting information or set of accounting information can be…

Q: The gross increase in stockholder’s equity attributable to business activities are called: a)…

A: Stock holders equity = equity share capital + Reserves and surplus

Q: When an account payable is paid with cash, the owner's equity in the business decreases. Please…

A: Accounting equation is the equation in which total assets are equal to the total of liabilities and…