Homework Answers
| Increase | Decrease | Reason | ||
| Common Stock | Credit | Debit |
Liability in Nature- credot will Increase value Debit will decrease value |
|
| Unearned revenue | Credit | Debit |
Liability in Nature- credot will Increase value Debit will decrease value |
|
| Salary Expenses | Debit | Credit | Expenses
- Asset side _increase will be debit and decreas will be credit |
|
| Professional Fees Earned | Credit | Debit | Sales -
revenue in nature - credit will Increase and debit will decrease |
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Slide / chapter 02: Accounting for Business Transactions Define debits and credits and explain double-entry accounting....
Slide 6 chapter 02: Accounting for Business Transactions Prepare and explain the use of a trial...
Slide 6 chapter 02: Accounting for Business Transactions Prepare and explain the use of a trial balance. Knowledge Check 03 For each situation listed below, indicate the effect on the debit and credit column of the trial balance: Debit Credit Event Journal entry for sale on account was posted for $3,000 rather than $300 Cash balance was entered in credit column. Total column wasn't added correctly. Debits should have totaled $50,000 but accountant calculated $55,000. Revenue account balance entered in...
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Chapter 2: Analyzing Transactions There are two accounts that are increased with debits. Please tell us...
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