100% satisfaction guarantee Immediately available after payment Both online and in PDF No strings attached
logo-home
ACG 2024 – MDC STUDY GUIDE TEST. $11.99   Add to cart

Exam (elaborations)

ACG 2024 – MDC STUDY GUIDE TEST.

 2 views  0 purchase
  • Course
  • MDC.
  • Institution
  • MDC.

ACG 2024 – MDC STUDY GUIDE TEST. ______ Payable - CORRECT ANSWER Normal Balance: Credit Type of Account: Liability Financial Statement: BS ______ Receivable - CORRECT ANSWER Normal Balance: Debit Type of Account: Asset Financial Statement: BS ______ Expense - CORRECT ANSWER Norma...

[Show more]

Preview 2 out of 5  pages

  • September 9, 2024
  • 5
  • 2024/2025
  • Exam (elaborations)
  • Questions & answers
  • mdc
  • MDC.
  • MDC.
avatar-seller
ROSEGRADES
ACG 2024 – MDC STUDY GUIDE TEST.


______ Payable - CORRECT ANSWER Normal Balance: Credit

Type of Account: Liability

Financial Statement: BS



______ Receivable - CORRECT ANSWER Normal Balance: Debit

Type of Account: Asset

Financial Statement: BS



______ Expense - CORRECT ANSWER Normal Balance: Debit

Type of Account: Expense

Financial Statement: IS



Capital Stock - CORRECT ANSWER Normal Balance: Credit

Type of Account: Owner's Equity

Financial Statement: BS



Cash - CORRECT ANSWER Normal Balance: Debit

Type of Account: Asset

Financial Statement: BS



Equipment - CORRECT ANSWER Normal Balance: Debit

Type of Account: Asset

Financial Statement: BS

, Supplies - CORRECT ANSWER Normal Balance: Debit

Type of Account: Asset

Financial Statement: BS



Dividends - CORRECT ANSWER Normal Balance: Debit

Type of Account: Owner's Equity

Financial Statement: RE



Retained Earnings - CORRECT ANSWER Normal Balance: Credit

Type of Account: Owner's Equity

Financial Statement: BS



Service Revenue - CORRECT ANSWER Service Revenue Normal Balance: Credit

Type of Account: Revenue

Financial Statement: IS



Unearned Revenue - CORRECT ANSWER Normal Balance: Credit

Type of Account: Liability

Financial Statement: BS



Income Statement - CORRECT ANSWER Revenue - Expense



Retained Earnings Statement - CORRECT ANSWER BRE (Beginning Retained Earnings) + NI (Net Income) -
Div (Dividends) = ERE (End Retained Earnings)



Balance Sheet - CORRECT ANSWER Assets = Liabilities + Owner's Equity



Asset - Credit or Debit - CORRECT ANSWER DR - Increase (Normal)

CR - Decrease

The benefits of buying summaries with Stuvia:

Guaranteed quality through customer reviews

Guaranteed quality through customer reviews

Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.

Quick and easy check-out

Quick and easy check-out

You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.

Focus on what matters

Focus on what matters

Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!

Frequently asked questions

What do I get when I buy this document?

You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.

Satisfaction guarantee: how does it work?

Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.

Who am I buying these notes from?

Stuvia is a marketplace, so you are not buying this document from us, but from seller ROSEGRADES. Stuvia facilitates payment to the seller.

Will I be stuck with a subscription?

No, you only buy these notes for $11.99. You're not tied to anything after your purchase.

Can Stuvia be trusted?

4.6 stars on Google & Trustpilot (+1000 reviews)

62890 documents were sold in the last 30 days

Founded in 2010, the go-to place to buy study notes for 14 years now

Start selling
$11.99
  • (0)
  Add to cart