Which accounts are increased by debits? A. Salaries Expense and Common Stock. B. Cash and Accounts...
Homework Answers
Answer:
Option D. Salaries Expenses and Common Stock.
Why So.
Only Assets & Expense accounts can be increased when they debit.
Option A. Salaries (Expenses) & Common Stock (Liabilities) (Not Eligible & Eligible)
Option B. Cash (Asset) and Accounts Payable. (Liabilities) (Not Eligible & Eligible)
Option C. Accounts Payable (Liabilities) and Service Revenue. (Income) (Not Eligible & Not Eligible)
Option D. Accounts Receivable (Assets) and Utilities Expense. (Expenses) (Eligible & Eligible)
So, In the four combination option D only has both Expenses and Asset A/c, hence the fourth combination only increases when you debit both of the accounts.
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Which accounts are increased by debits?
A.
Salaries Expense and Common Stock.
B.
Cash and Accounts...
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