Ask Me Help Desk

Ask Me Help Desk (https://www.askmehelpdesk.com/forum.php)
-   Accounting (https://www.askmehelpdesk.com/forumdisplay.php?f=19)
-   -   An accountant has debited an asset account for $1,000 and credited a liability accoun (https://www.askmehelpdesk.com/showthread.php?t=509689)

  • Sep 21, 2010, 08:26 PM
    jewel420
    An accountant has debited an asset account for $1,000 and credited a liability accoun
    An accountant has debited an asset account for $1,000 and credited a liability account for $500. What can be done to complete the recording of the transaction?
    a. Nothing further must be done.
    b. Credit a different asset account for $500.
    c. Debit a stockholders’ equity account for $500.
    d. Debit another asset account for $500.
  • Sep 21, 2010, 11:08 PM
    morgaine300

    Please see the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html

  • All times are GMT -7. The time now is 07:13 PM.