An account will have a credit balance if the

A)debits exceed the credits.
B)credits exceed the debits.
C)first transaction entered was a credit.
D)last transaction entered was a credit.

Which of the following is incorrect as to category, normal balance, financial statement, to increase, to
decrease
A)Cash – asset, debit, balance sheet, credit,
debit
B)Accounts Payable – liabilities, debit, balance sheet,
credit, debit
C)Common Stock – shareholders equity, debit, balance sheet,
credit, debit
D)Service Revenue – revenue, credit, income statement, debit,
credit
E)Dividend – expense, debit, retained earning, debit,
credit
F)All of these
G)None of these

The accounting equation for Eldorado Enterprises is:Assets
$100,000 = Liabilities $40,000 + Stockholders’ equity Equity $60,000.

If Eldorado purchases equipment for $25,000 and signs a note payable for the same amount, the new accounting
equation will be:

A)Assets $75,000 = Liabilities $15,000 + Stockholders’ equity
$60,000.
B)Assets $100,000 = Liabilities $40,000 + Stockholders’
equity $60,000
C)Assets $125,000 = Liabilities $40,000 + Stockholders’
equity $85,000.
D)Assets $125,000 = Liabilities $65,000 +
Stockholders’ equity $60,000.

Thank you for helping. I really hope u can give me the right answer and explain the steps