Remittance of residents to foreigners should be entered as a in account.
A: credit, current
B: credit, capital
C: debit, current
D: debit, capital
A: credit, current
B: credit, capital
C: debit, current
D: debit, capital
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- The payment of dividend by an American company to a foreign stockholder represents ( ). A: a debit in the S. capital account B: a credit in the current account C: a credit in the S. official reserve account D: a debit in the S. current account
- A company receives £500 of cash as an additional investment in the company by its owner, Mary Smith. The company's Cash account is increased and Mary Smith, Capital is increased. Should the £500 entry to the Cash account and to Mary Smith, Capital be a debit or a credit, respectively? A: a debit; a debit B: a debit; a credit C: a credit; a debit D: a credit; a credit
- Which one of the following statements is correct？ A: An increase in an asset is a debit and an increase in an expense is a credit B: An increase in capital is a debit and an increase in a liability is a credit C: An increase in an expense is a debit and a reduction in an asset is a credit D: A reduction in a liability is a debit and an increase in an expense is a credit
- Matthew Company purchases a trading security for $12,000 cash. The journal entry to record this transaction will include a: A: debit to the Investment in Trading Securities account and a credit to Cash. B: debit to Cash and a credit to the Investment in Trading Securities account. C: debit to Long-term Investment and credit Cash. D: debit to Dividend Revenue and credit to Cash.
- When an expense account is increased: A: an amount is entered on the credit side of the expense account. B: stockholders' equity is not affected. C: an amount is entered on the debit side of the expense account. D: cash must always be credited.