UGLIOLI

Which of the following statements is correct? Group of answer choices The normal balance of revenue is a debit. The normal balan

kaheart [24]

Answer:

The normal balance of liabilities is a credit.

Explanation:

In the double entry system one account must be debited in order for the other to be credited.

There are different balances for each account. For the accounts with normal credit balance a credit causes it to increase while a debit decreases it.

For accounts with negative balance a credit reduces its balance while a debit increases its balance.

- Asset: Debit

- Expense: Debit

- Dividends: Debit

- Liability: Credit

- Owner’s Equity: Credit

- Revenue: Credit

- Retained Earnings: Credit

Liabilities are debt owed by a business. When payment is given out to settle a debt (a debit) it reduces to amount a business owes.

If more loans are collected (a credit) the liability figure increases.

So liability has a normal credit balance

5 0

3 years ago

Petunia is a debtor. Her employer Quantum Investments, Inc., her ex-husband Rob, her alma mater State University, and Timely Cre

Fed [463]

Answer:

a. Petunia only

Explanation:

A petition for relief through an individual's repayment plan is a document filled out asking to pay off a debt by making small individual payments stretched out over a specific period of time, and can only be filled by the debtor and accepted by the creditors. Therefore it can only be filled out by Petunia.

4 0

3 years ago

Does the National Labor Relations Act give an employer the right to plead with workers to

trapecia [35]

The national labor relation act is the act formed by the government to protect right of employers and the employees.

<u>Explanation:</u>

The National Labor Relations Act of 1935 is a primary rule of United States work law which ensures the privilege of private part employees to sort out into worker's guilds, participate in aggregate haggling, and make aggregate move, for example, strikes.

Congress sanctioned the National Labor Relations Act ("NLRA") in 1935 to secure the privileges of representatives and bosses, to energize aggregate dealing, and to shorten certain private area work and the executives rehearses, which can hurt the general government assistance of laborers, organizations and the U.S. economy.

3 0

3 years ago

Medical researchers have developed a new artificial heart constructed primarily of titanium and plastic. the heart will last and

Natalka [10]

Based on the given information, this 50 battery packs will then be tested through the artificial heart and check which of the different components contains the best component for the organ.Thank you for your question. Please don't hesitate to ask in Brainly your queries.

7 0

3 years ago

Exercise 2-6 Analyzing account entries and balances LO A1 Use the information in each of the following separate cases to calcula

VARVARA [1.3K]

Answer:

a) Corentine Co.

Cash paid to suppliers:

Beginning balance, September 30 $152,000

Purchases $281,000

Ending balance, October 31 $132,500

Cash paid $300,500

b) Valerian Co.

Sales to customers on account:

Ending balance, October 31 $89,000

Cash collected $102,890

Beginning balance, September 30 $102,500

Sales $89,390

c) Alameda Company

Cash balance on September 30:

Cash disbursements $103,150

Balance, October 31 $18,600

Cash receipts $102,500

Balance, Sept. 30 $19,200

Explanation:

The unknown amount for each case is the difference between the opening balance, the transactions for the month of October and closing balance.

5 0

3 years ago