An Accountant Has Debited an Asset Account for $3,000 and Credited

question 18

Multiple Choice

An accountant has debited an asset account for $3,000 and credited a revenue account for $6,000.What can be done to complete the recording of the transaction?

• A)Nothing further can be done.
• B)Credit a shareholders' equity account for $3,000.
• C)Debit another asset account for $3,000.
• D)Credit another asset account for $3,000.

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Definitions:

Tale of Genji

A classic work of Japanese literature written in the early 11th century by Murasaki Shikibu, detailing the life and loves of the nobleman Genji.

Gu Kaizhi's Admonitions

Refers to "Admonitions of the Instructress to the Court Ladies," a famous Chinese scroll painting by the artist Gu Kaizhi, illustrating a moralistic tale.

Phoenix Hall

The main building of Byōdō-in, a historic Buddhist temple in Uji, Japan, known for its Phoenix-like architecture.

Horyuji

An ancient Buddhist temple in Ikaruga, Nara Prefecture, Japan, known for its historic wooden structures and as a UNESCO World Heritage site.