Exam (elaborations)
Coursera Intro to accounting (bookkeeping)questions well answered
- Course
- Institution
Coursera Intro to accounting (bookkeeping)questions well answered
[Show more]
Content preview
Coursera Intro to accounting(bookkeeping
What three equation in bookkeeping must balance at all times/ - correct answer ✔✔1. Balance sheet
equation Assets= Liabilities + Shareholders Equity
2. Sum of debits = Sum of credits
3. Beginning Balance account + Increases + Decreases = Ending account balance.
Debit entry goes on which side? - correct answer ✔✔Left
Credit entry goes on which side? - correct answer ✔✔Right
In the accounting world what does debit mean? - correct answer ✔✔Left
In the accounting world what does credit mean? - correct answer ✔✔Right
To enable all entries in bookkeeping to be positive what part of the balance sheet equation moves and to
where ? - correct answer ✔✔Assets = Contributed Capital + Retained Earning+ Revenue - Expenses
In bookkeeping Expenses move to the side of the assets to keep everything positive.
Assets + Expenses = Contributed Capital + Retained Earning + Revenue
What goes on the debit side? - correct answer ✔✔Contributed Capital, Retained Earning and Revenue
What goes on the credit side? - correct answer ✔✔Assets and Expenses.
What are the rules of Debits and credits? - correct answer ✔✔- Every transaction must have at least one
debit and at least one credit
- Debits must equal credits for all transactions
The benefits of buying summaries with Stuvia:
Guaranteed quality through customer reviews
Stuvia customers have reviewed more than 700,000 summaries. This how you know that you are buying the best documents.
Quick and easy check-out
You can quickly pay through credit card or Stuvia-credit for the summaries. There is no membership needed.
Focus on what matters
Your fellow students write the study notes themselves, which is why the documents are always reliable and up-to-date. This ensures you quickly get to the core!
Frequently asked questions
What do I get when I buy this document?
You get a PDF, available immediately after your purchase. The purchased document is accessible anytime, anywhere and indefinitely through your profile.
Satisfaction guarantee: how does it work?
Our satisfaction guarantee ensures that you always find a study document that suits you well. You fill out a form, and our customer service team takes care of the rest.
Who am I buying these notes from?
Stuvia is a marketplace, so you are not buying this document from us, but from seller BravelRadon. Stuvia facilitates payment to the seller.
Will I be stuck with a subscription?
No, you only buy these notes for $9.99. You're not tied to anything after your purchase.
Can Stuvia be trusted?
4.6 stars on Google & Trustpilot (+1000 reviews)
79650 documents were sold in the last 30 days
Founded in 2010, the go-to place to buy study notes for 14 years now