Homework Answers
In the financial statements, for
- Assets and Expenses- A debit to such accounts lead to increase and credit will lead to decrease in balance.
- Liabilities and Incomes- A debit to such accounts lead to decrease and credit will lead to increase in balance.
Accordingly solution to above question is as follows:-
| To increase Land | Debit |
| To decrease Cash | Credit |
| To increase Fees Earned (Revenues) | Credit |
| To increase Salaries Expenses | Debit |
| To decrease Unearned Revenue | Debit |
| To decrease Prepaid Rent | Credit |
| To increase Notes Payable | Credit |
| To decrease Accounts Receivable | Credit |
| To increase Owner Capital | Credit |
| To increase Store Equipment | Debit |
Add Answer to:
QS 2.7 Analyzing debit or credit by account LO A1 Identify whether a debitor credit results...
Identify whether a debit or credit results in the indicated change for each of the following...
Identify whether a debit or credit results in the indicated change for each of the following accounts. . a. To increase Prepaid Service Fees b. To decrease Cash c. To increase Salaries Expense d. To increase Rental Revenue e. To decrease Salaries Payable f. To decrease Supplies g. To increase Utilities Payable h. To decrease Office Supplies i. To increase Owner, Capital 1. To increase Store Supplies S
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each...
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Rent Expense Debit b. Legal Expense Debit c. Interest Payable Credit d. Factory Debit e. Fees Earned (Revenues) Credit f. Haircutting Revenue Credit 9. Accounts Payable Credit h. Land Debit 1. Office Supplies Debit
Identify whether a debit or credit results in the indicated change for each of the following...
Identify whether a debit or credit results in the indicated change for each of the following accounts. Debit Debit a. To increase Supplies b. To decrease Store Supplies c. To increase Legal Expense d. To increase Consulting Revenue e. To decrease Salaries Payable f. To decrease Equipment g. To increase Interest Payable h. To decrease Buildings i. To increase Common Stock j. To increase Store Equipment Debit Credit
Identify whether a debit or credit results in the indicated change for each of the following...
Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Note Receivable b. To decrease Prepaid Rent c. To increase Delivery Expense d. To increase Haircutting Revenue e. To decrease Utilities Payable f. To decrease Prepaid Parking g. To increase Taxes Payable h. To decrease Furniture i. To increase Common Stock j. To increase Office Supplies Indicate the financial statement on which each of the following items appears. Use Ifor...
Identify whether a debit or credit results in the indicated change for each of the following...
Identify whether a debit or credit results in the indicated
change for each of the following accounts.
Identify whether a debit or credit results in the indicated change for each of the following accounts. Credit a. To increase Cash b. To decrease Supplies c. To increase Janitorial Expense d. To increase Haircutting Revenue e. To decrease Taxes Payable f. To decrease Office Supplies g. To increase Unearned Subscriptions h. To decrease Land i. To increase Common Stock j. To increase...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts....
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Cash b. Accounts Receivable c. Note Receivable Prepaid Insurance Prepaid Rent Service Fees Earned Prepaid Parking Supplies Interest Revenue Store Equipment k Office Supplies Salaries Payable
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each...
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Note Payable b. Prepaid Rent c. Prepaid Insurance d. Fuel Expense e. Furniture f. Rent Revenue g. Postage Expense h. Office Equipment i. Building
Identify whether a debit or credit yields the indicated change for each of the following accounts....
Identify whether a debit or credit yields the indicated change for each of the following accounts. a. To increase Furniture b. To decrease Equipment c. To increase Supplies Expense d. To increase Haircutting Revenue e. To decrease Taxes Payable f. To decrease Office Equipment g. To increase Interest Payable h. To decrease Store Equipment . To increase Owner, Capital i To increase Trucks
Identify whether a debitor credit results in the Indicated change for each of the following accounts...
Identify whether a debitor credit results in the Indicated change for each of the following accounts Credit Debit Credit a. To increase Office Supplies b. To decrease Furniture To increase Janitorial Expense d. To increase Rental Revenue e. To decrease Wages Payable f. To decrease Office Equipment 9. To increase Cash h. To decrease Factory i. To increase Common Stock 1. To increase Trucks
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance...
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance Fees Eamed (Revenues) b. Office Supplies c Owner, Withdrawals d. Wages Expense e. Accounts Receivable E Prepaid Rent 9. Wages Payable h. Building Owner. Capital Debit Credit
Identify whether a debit or credit results in the indicated change for each of the following accounts. . a. To increase Prepaid Service Fees b. To decrease Cash c. To increase Salaries Expense d. To increase Rental Revenue e. To decrease Salaries Payable f. To decrease Supplies g. To increase Utilities Payable h. To decrease Office Supplies i. To increase Owner, Capital 1. To increase Store Supplies S
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Rent Expense Debit b. Legal Expense Debit c. Interest Payable Credit d. Factory Debit e. Fees Earned (Revenues) Credit f. Haircutting Revenue Credit 9. Accounts Payable Credit h. Land Debit 1. Office Supplies Debit
Identify whether a debit or credit results in the indicated change for each of the following accounts. Debit Debit a. To increase Supplies b. To decrease Store Supplies c. To increase Legal Expense d. To increase Consulting Revenue e. To decrease Salaries Payable f. To decrease Equipment g. To increase Interest Payable h. To decrease Buildings i. To increase Common Stock j. To increase Store Equipment Debit Credit
Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Note Receivable b. To decrease Prepaid Rent c. To increase Delivery Expense d. To increase Haircutting Revenue e. To decrease Utilities Payable f. To decrease Prepaid Parking g. To increase Taxes Payable h. To decrease Furniture i. To increase Common Stock j. To increase Office Supplies Indicate the financial statement on which each of the following items appears. Use Ifor...
Identify whether a debit or credit results in the indicated
change for each of the following accounts.
Identify whether a debit or credit results in the indicated change for each of the following accounts. Credit a. To increase Cash b. To decrease Supplies c. To increase Janitorial Expense d. To increase Haircutting Revenue e. To decrease Taxes Payable f. To decrease Office Supplies g. To increase Unearned Subscriptions h. To decrease Land i. To increase Common Stock j. To increase...
Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Cash b. Accounts Receivable c. Note Receivable Prepaid Insurance Prepaid Rent Service Fees Earned Prepaid Parking Supplies Interest Revenue Store Equipment k Office Supplies Salaries Payable
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Note Payable b. Prepaid Rent c. Prepaid Insurance d. Fuel Expense e. Furniture f. Rent Revenue g. Postage Expense h. Office Equipment i. Building
Identify whether a debit or credit yields the indicated change for each of the following accounts. a. To increase Furniture b. To decrease Equipment c. To increase Supplies Expense d. To increase Haircutting Revenue e. To decrease Taxes Payable f. To decrease Office Equipment g. To increase Interest Payable h. To decrease Store Equipment . To increase Owner, Capital i To increase Trucks
Identify whether a debitor credit results in the Indicated change for each of the following accounts Credit Debit Credit a. To increase Office Supplies b. To decrease Furniture To increase Janitorial Expense d. To increase Rental Revenue e. To decrease Wages Payable f. To decrease Office Equipment 9. To increase Cash h. To decrease Factory i. To increase Common Stock 1. To increase Trucks
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance Fees Eamed (Revenues) b. Office Supplies c Owner, Withdrawals d. Wages Expense e. Accounts Receivable E Prepaid Rent 9. Wages Payable h. Building Owner. Capital Debit Credit
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