Directions: Complete the table below. The first item has been done for you. Decreased by Classification Normal Increased by List of Accounts (Debit Credit) Balance (Debit/ (Asset, Liabilities, Owner's Equity (Debit/ Credit) Credit) Revenue, Expense) Debit Credit Cash Asset Debit 21 Freight In 22 Salaries Expense 23 Supplies Expense 24 Utilities Expense 25 Communication Expense 26 Travel Expense 27 Rent Expense 28 Insurance Expense 29 Advertising Expense 30 Delivery Expense

Directions: Complete the table below. The first item has been done for you. Decreased by Classification Normal Increased by List of Accounts (Debit Credit) Balance (Debit/ (Asset, Liabilities, Owner's Equity (Debit/ Credit) Credit) Revenue, Expense) Debit Credit Cash Asset Debit 21 Freight In 22 Salaries Expense 23 Supplies Expense 24 Utilities Expense 25 Communication Expense 26 Travel Expense 27 Rent Expense 28 Insurance Expense 29 Advertising Expense 30 Delivery Expense

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 13EB: State whether the balance in each of the following accounts increases with a debit or a credit. A....

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Similar questions

Which of the following pairs of accounts are impacted the same with debits and credits? A. Cash and Unearned Service Revenue B. Electricity Expense and Office Supplies C. Accounts Receivable and Accounts Payable D. Buildings and Common Stock
Which set of accounts has the same type of normal balance? A. Cash, accounts payable B. Prepaid rent, unearned service revenue C. Dividends, common stock D. Accounts payable, retained earnings
For the following accounts please indicate whether the normal balance is a debit or a credit. A. Sales B. Dividends C. Office Supplies D. Retained Earnings E. Accounts Receivable F. Prepaid Rent G. Prepaid Insurance H. Wages Payable I. Building J. Wages Expense
State whether the balance in each of the following accounts increases with a debit or a credit. A. Office Supplies B. Retained Earnings C. Salaries Expense D. Accounts Receivable E. Service Revenue
Determine whether the balance in each of the following accounts increases with a debit or a credit. A. Cash B. Common Stock C. Equipment D. Accounts Payable E. Fees Earned F. Electricity Expense
Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Accumulated Depreciation B. Buildings C. Depreciation Expense D. Equipment E. Fees Earned Revenue F. Insurance Expense G. Prepaid Insurance H. Supplies Expense I. Dividends
Identify whether each of the following accounts would be considered a permanent account (yes/no) and which financial statement it would be reported on (Balance Sheet, Income Statement, or Retained Earnings Statement). A. Common Stock B. Dividends C. Dividends Payable D. Equipment E. Income Tax Expense F. Income Tax Payable G. Service Revenue H. Unearned Service Revenue I. Net Income
Which of the following accounts is increased by a debit? A. Common Stock B. Accounts Payable C. Supplies D. Service Revenue
Which of the following accounts does not increase with a debit entry? A. Retained Earnings B. Buildings C. Prepaid Rent D. Electricity Expense
List the classification of each of the following accounts as A (asset), L (liability), OE (owners equity), R (revenue), or E (expense). Write Debit or Credit to indicate the increase side, the decrease side, and the normal balance side.
Indicate on which financial statement the following accounts (from the adjusted trial balance) would appear: (A) Sales Revenue; (B) Unearned Rent Revenue; (C) Prepaid Advertising; (D) Advertising Expense; (E) Dividends; (F) Cash.
Classify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE), revenue (R), or expenses (E). Indicate the normal debit or credit balance of each account. Indicate whether each account will appear in the Income Statement columns (IS) or the Balance Sheet columns (BS) of the work sheet. Item 0 is given as an example.