Any "revenue" is credit, right?
And any "payable" is debit??
i change letters:
c,i,k,&L are the rest correct.
Indicate whether a debit or credit decreases the normal balance of each of the following accounts:
a. Office Supplies (debit)
b. Repair Services Revenue (credit)
c. Interest Payable (credit) this is debit
d. Accounts Receivable (credit)
e. Salaries Expense (debit)
f. Owner Capital (credit)
g. Prepaid Insurance (debit)
h. Buildings (debit)
i. Interest Revenue (debit) then this is credit
j. Owner Withdrawals (credit)
k. Unearned Revenue (debit) then this is credit
l. Accounts Payable (credit)this is debit
Corrections look good.
does it look okay the rest of my answers or i am completely off track
would the following be correct
1. fees earned be debit
2. wages expenses be credit
3. cash would be debit
4. wages payable credit
"earned" = income = credit
"expenses" and "payable" = outgo = debit
I am not sure how you'd list cash unless you mean cash that is paid to the company, in which case it's credit. If it's just there -- not being paid out or paid in -- I'm not sure, but it's definitely not debit!
Umm, most of these look wrong to me. Assets and Expenses are decreased with credits, while Liabilities and Revenue is decreased with debits.
a. Office Supplies (credit)
b. Repair Services Revenue (debit)
c. Interest Payable (debit)
d. Accounts Receivable (debit)
e. Salaries Expense (c)
f. Owner Capital (d)
g. Prepaid Insurance (c)
h. Buildings (c)
i. Interest Revenue (d)
j. Owner Withdrawals (c)
k. Unearned Revenue (d)
l. Accounts Payable (d)
Finance - CAN SOMEONE PLEASE PLEASE HELP ME WITH A FINANCE QUESTION THAT I ...
Intro to Finance - Could someone please help me figure this out? 1.
Finance - Could someone show me how to calculate average tax rate. What would be...
Math - I need someone to check my answer, can someone please help me? Here is ...
Finance - What experience(good or bad)do you (or someone you know)have with IRS ...
finance - Can someone help me with NPV,IRR,MIRR, and Payback values? I need to ...
foundations of personal finance - I having trouble understanding the critical ...
Finance - If I loaned someone $5000 four years ago at an interest rate of 5%, ...
Business Math - Can someone please check over my answers? I'm not sure about ...
Multiplying and Dividing Rational Expressions - Can someone solve these for me?...