name \ndate \nclass \npart three—identifying changes in accounts \ndirections: for each of the following…

name \ndate \nclass \npart three—identifying changes in accounts \ndirections: for each of the following items, select the choice that best completes the statement. print the letter identifying your choice in the answers column. \n1. the values of all things owned (assets) are on the accounting equation’s (a) left side (b) right side (c) credit side (d) none of these. (p. 32) \n2. the values of all equities or claims against the assets (liabilities and owner’s equity) are on the accounting equation’s (a) left side (b) right side (c) debit side (d) none of these. (p. 32) \n3. an amount recorded on the left side of a t account is a (a) debit (b) credit (c) normal balance (d) none of these. (p. 33) \n4. an amount recorded on the right side of a t account is a (a) debit (b) credit (c) normal balance (d) none of these. (p. 33) \n5. the normal balance side of any asset account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 33) \n6. the normal balance side of any liability account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 33) \n7. the normal balance side of an owner’s capital account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 33) \n8. debits must equal credits (a) in a t account (b) on the equation’s left side (c) on the equation’s right side (d) for each transaction. (p. 36) \n9. decreases in an asset account are shown on a t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 37) \n10. increases in an asset account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 37) \n11. increases in any liability account are shown on the t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 39) \n12. decreases in any liability account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 40) \n13. increases in a revenue account are shown on a t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 43) \n14. the normal balance side of any revenue account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 43) \n15. increases in an expense account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 45) \n16. the normal balance side of any expense account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 45) \n17. the normal balance side of an owner’s drawing account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 47) \n18. increases in an owner’s drawing account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 47)

name \ndate \nclass \npart three—identifying changes in accounts \ndirections: for each of the following items, select the choice that best completes the statement. print the letter identifying your choice in the answers column. \n1. the values of all things owned (assets) are on the accounting equation’s (a) left side (b) right side (c) credit side (d) none of these. (p. 32) \n2. the values of all equities or claims against the assets (liabilities and owner’s equity) are on the accounting equation’s (a) left side (b) right side (c) debit side (d) none of these. (p. 32) \n3. an amount recorded on the left side of a t account is a (a) debit (b) credit (c) normal balance (d) none of these. (p. 33) \n4. an amount recorded on the right side of a t account is a (a) debit (b) credit (c) normal balance (d) none of these. (p. 33) \n5. the normal balance side of any asset account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 33) \n6. the normal balance side of any liability account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 33) \n7. the normal balance side of an owner’s capital account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 33) \n8. debits must equal credits (a) in a t account (b) on the equation’s left side (c) on the equation’s right side (d) for each transaction. (p. 36) \n9. decreases in an asset account are shown on a t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 37) \n10. increases in an asset account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 37) \n11. increases in any liability account are shown on the t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 39) \n12. decreases in any liability account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 40) \n13. increases in a revenue account are shown on a t account’s (a) debit side (b) credit side (c) left side (d) none of these. (p. 43) \n14. the normal balance side of any revenue account is the (a) debit side (b) credit side (c) left side (d) none of these. (p. 43) \n15. increases in an expense account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 45) \n16. the normal balance side of any expense account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 45) \n17. the normal balance side of an owner’s drawing account is the (a) debit side (b) credit side (c) right side (d) none of these. (p. 47) \n18. increases in an owner’s drawing account are shown on a t account’s (a) debit side (b) credit side (c) right side (d) none of these. (p. 47)

Answer

Brief Explanations:

  1. En la ecuación contable, los activos se encuentran en el lado izquierdo.
  2. Las equidades y obligaciones se encuentran en el lado derecho de la ecuación contable.
  3. Un importe registrado en el lado izquierdo de una cuenta T es un débito.
  4. Un importe registrado en el lado derecho de una cuenta T es un crédito.
  5. El saldo normal de una cuenta de activos es el lado débito.
  6. El saldo normal de una cuenta de pasivos es el lado crédito.
  7. El saldo normal de una cuenta de capital de propietario es el lado crédito.
  8. Los débitos y créditos deben ser iguales para cada transacción.
  9. Las disminuciones en una cuenta de activos se muestran en el lado crédito de la cuenta T.
  10. Los aumentos en una cuenta de activos se muestran en el lado débito de la cuenta T.
  11. Los aumentos en una cuenta de pasivos se muestran en el lado crédito de la cuenta T.
  12. Las disminuciones en una cuenta de pasivos se muestran en el lado débito de la cuenta T.
  13. Los aumentos en una cuenta de ingresos se muestran en el lado crédito de la cuenta T.
  14. El saldo normal de una cuenta de ingresos es el lado crédito.
  15. Los aumentos en una cuenta de gastos se muestran en el lado débito de la cuenta T.
  16. El saldo normal de una cuenta de gastos es el lado débito.
  17. El saldo normal de una cuenta de retiros de propietario es el lado débito.
  18. Los aumentos en una cuenta de retiros de propietario se muestran en el lado débito de la cuenta T.

Answer:

  1. A. left side
  2. B. right side
  3. A. debit
  4. B. credit
  5. A. debit side
  6. B. credit side
  7. B. credit side
  8. D. for each transaction
  9. B. credit side
  10. A. debit side
  11. B. credit side
  12. A. debit side
  13. B. credit side
  14. B. credit side
  15. A. debit side
  16. A. debit side
  17. A. debit side
  18. A. debit side