Ask Experts Questions for FREE Help !
Ask
    jewel420's Avatar
    jewel420 Posts: 1, Reputation: 1
    New Member
    		  
    #1

    Sep 21, 2010, 08:26 PM
    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.
    morgaine300's Avatar
    morgaine300 Posts: 6,561, Reputation: 276
    Uber Member
    		  
    #2

    Sep 21, 2010, 11:08 PM

    Please see the guidelines for posting homework:
    https://www.askmehelpdesk.com/financ...-b-u-font.html
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Adividend of 600 was debited to Wages expense for 600 and credited to Cash for 600 wh [ 4 Answers ]

Adividend of 600 was debited to Wages expense for 600 and credited to Cash for 600 what will be the adjusting entries? I need your help with the journal entries 1-Aug Kendra Greco begins practice as a dentist & invests $20,000 cash 2 Purchases furniture and dental equipment on account from...

I need the ratio for 100,000 liability and 10,000 asset [ 1 Answers ]

I borrowed 100,000 I have 10,000 from work that I earned the bank needs 1.50 ratio to give me the loan what is my ratio

Assets 23,000, liability 11,000, retained earn-4,500, what is capital stock [ 6 Answers ]

In the expanded accounting equation, if assets aqre 23,000, liabailities 11,000, retained earnings are 4,500, how much is capital stock, and how do you compute the answer?

Debited instead of credited. [ 3 Answers ]

After drafting the trial balance I discovered that I debited the purchase returns a/c instead of crediting it, what journal entry for the correction is needed?

How are deposited checks handled in the general ledger .debited or credited? [ 2 Answers ]

Dear Sir, I have a question regarding the general recording of checks in the general ledger. What are some rules of thumb when dealing with deposited checks?. Are they debited or credited. I'm sorry the question is rather v ague but if you can answer by way of some examples I'd appreciate it. ...

View more questions Search