accounting question 380608

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.

10. 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

12.

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

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