ACCT 2000 Study Guide - Final Guide: Financial Accounting Standards Board, Standard Accounting Practice, Debits And Credits
Document Summary
Dividends sh: ,540,000, ,730,000 formula:[(,000,000+,000)-,120,000, ,860,000, ,160,000, ch. Two or more persons associated as partners. Each partner may bring economic resources: ch. 11 a credit decreases the balance of which types of accounts: expenses and assets, liabilities and expenses. Hatfield 2: assets and liabilities, assets and stockholders" equity. Decrease in assets (cash) and decrease in stockholders" equity. Contra stockholders" equity: cash dividends paid to the stockholders will, increase assets and decrease liabilities, decrease assets and increase liabilities, have no effect on stockholders" equity pg. 585: decrease assets and decrease stockholders" equity. No effect of stockholders" equity: a business purchases a truck by signing a note payable to the seller. Such a transaction would include a: credit to truck, debit to note payable, credit to note payable, debit to an expense account. Credit notes payable: on december 31, 2011, salaries owed to employees total ,350 and will be paid on.
