The following table summarizes the rules of debit and credit. For each of the items (a) through (1). indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) Liability Owner's equity: Capital (d) Debit (e) Credit Credit Drawing Income statement accounts: (g) Revenue Credit Expense Credit Debit

The following table summarizes the rules of debit and credit. For each of the items (a) through (1). indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) Liability Owner's equity: Capital (d) Debit (e) Credit Credit Drawing Income statement accounts: (g) Revenue Credit Expense Credit Debit

Name: EX 2-4 Rules of debit and creditObj. 1, 2The following table summariz
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Description: EX 2-4 Rules of debit and creditObj. 1, 2The following table summarizes the rules of debit and credit. For each of the items (a) through (1).indicate whether the proper answer is a debit or a credit.Increase Decrease Normal BalanceBalance sheet acco

Corporate Financial Accounting

14th Edition

ISBN:9781305653535

Author:Carl Warren, James M. Reeve, Jonathan Duchac

Publisher:Carl Warren, James M. Reeve, Jonathan Duchac

Chapter2: Analyzing Transactions

Section: Chapter Questions

Problem 2.4EX: Rules of debit and credit The following table summarizes the rules of debit and credit. For each of...

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Rules of debit and credit The following table summarizes the rules of debit and credit. For each of the items (a) through (1), indicate whether the proper answer is a debit or a credit.
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