To credit an expense account means to decrease it.

The cost price of a box produced by the company "X" is $2. On December 31, 2014 they have 1.000 boxes on stock. On the same day net sales price for this box is $1.9. Which value of boxes has to be present in their balance sheet for 2014: 1. $ 100 2. $ 2,000 3. $ 2 4. $ 1,900

If a financial transaction increased an asset you would credit the asset account in the bookkeeping system?

Under the accrual basis of accounting, revenues are reported in the accounting period when the

In the double-entry bookkeeping system, financial transactions are first recorded in the:

When applying the accrual basis of accounting, how would you report expenses that covered a future period?

If a customer is not paying their invoices, the best first step to encourage them to pay is:

Which of the following transactions would have no impact on the stockholders' equity?

Trade accounts receivable:

Which of the following is a personal account?