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)
Answer this Question
accounting - Linking debit or credit with normal balance C5 Indicate whether a ...
accounting, correction - can someone correct these for me thanks. If you have a ...
Accounting - Please double check me. Indicate whether a debit or credit ...
Accounting - Please check me - Indicate whether a debit or credit decreases the ...
more accounting - I am so lost in this the book does not make sence, I think i ...
xacc 280 - I just need an example • What increases the Asset account, a debit or...
accounting - Which of the following statements is incorrect? a. The normal ...
accounting, correction - Can someone correct these for me thanks I'll appreciate...
accounting - Identify whether a debit or credit yields the indicated change for ...
accounting - Is there a method of determining if you debit or credit an account...