Increased $40,000>Since assets only reduced $50,000, and also liabilities diminished by $90,000, stockholders" equity needs to increase by $40,000 to save the accountancy equation balanced.

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During 2014, Gibson company assets diminished $50,000 and also its liabilities decreased $90,000. That stockholders" equity...-decreased $140,000-increased $140,000-decreased $40,000-increased $40,000
Decreases cash; decreases kept earnings.>Payment of dividends reduces both cash and also retained earnings.
Payment of a dividend...-decreases cash; boosts stockholders" equity.-increases retained earnings; rises expenses.-increases expenses; decreases cash.-decreases cash; decreases kept earnings.
An account is a resource document.>An account has three an easy parts - a title, a debit side, and a credit transaction side, however it is not a source document.
An account is a part of the financial info system and also is described by all except which among the following?-an account has actually a debit and credit side-an account is a resource document-an account is composed of three parts-an account has a title
Which accounts typically have debit balances?-assets, liabilities, and also dividends-assets, expenses, and revenues-assets, dividends, and also expenses-assets, expenses, and retained earnings
Analyze a transaction; record it in the journal; write-up it to the ledger>The sequence is to analysis the event, record it, and also then write-up it come the ledger.
Which the the complying with is the correct sequence the events?-record a transaction in the journal; analyze the transaction; article it to the ledger-analyze a transaction; record it in the journal; post it come the ledger-none the the answer options provides the correct sequence-analyze a transaction; post it to the ledger; document it in the journal
In the journal>The an initial place entries are taped is the journal. It is periodically referred to together the book of original entry.
Where is the an initial place every transaction is recorded?-in the journal-in the respective accounts-in the simple accounting equation-in the ledger
Liability>The unearned revenue account is classified as a liability. Unearned profits are payments because that future services to it is in performed or goods to be delivered. Till a firm performs the solutions or it is intended the goods, the quantity is owed to the party that made the payment.

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The order that they show up in the ledger>Accounts will appear in the trial balance in the very same order the they show up in the ledger.
Accounts are detailed on the attempt balance in...-the order in which they room posted-alphabetical order-chronological order-the order that they appear in the ledger
Which that the adhering to is not one of the primary species of the financing activities in the declare of cash flows?-issuing shares of stock-buying equipment-borrowing money-paying dividends


Intermediate Accounting, Binder prepared Version16th EditionDonald E. Kieso, Jerry J. Weygandt, terry D. Warfield

MyAccountingLab v Pearson eText -- Instant accessibility -- for Financial Accounting9th EditionCharles T. Horngren