Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable f. Decrease to Prepaid Rent g. Increase to Common Stock h. Increase to Notes Receivable i. Decrease to Accounts Payable j. Increase to Interest Revenue
Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable f. Decrease to Prepaid Rent g. Increase to Common Stock h. Increase to Notes Receivable i. Decrease to Accounts Payable j. Increase to Interest Revenue
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 5QY: M. Parish purchased supplies on credit. What is the impact on the accounting equation? a. Increase...
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Identifying increases and decreases in accounts
For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR).
a. Increase to
b. Decrease to Unearned Revenue
c. Decrease to Cash
d. Increase to Interest Expense
e. Increase to Salaries Payable
f. Decrease to Prepaid Rent
g. Increase to Common Stock
h. Increase to Notes Receivable
i. Decrease to Accounts Payable
j. Increase to Interest Revenue
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