Debits and Credits

Welcome to the "Debits and Credits" category here on Questions LLC! If you're looking to enhance your understanding of accounting principles or seeking guidance on debits and credits, you've come to the right place. Our knowledgeable community is here to answer your questions and provide valuable insights on this fundamental concept in the world of finance. Whether you're a student, professional, or simply curious about the intricacies of double-entry bookkeeping, browse through our collection of questions to gain a deeper understanding of how debits and credits impact financial transactions. Don't hesitate to ask your own questions or join in on discussions to broaden your knowledge and contribute to the learning journey of others.

Questions (27)

Indicate whether a debit or credit decreases the normal balance of each of the following accounts:a. Office Supplies e. Salaries
1. 4 answers
2. asked by Tee
3. 1,819 views
Identify whether a debit or credit yields the indicated change for each of the following accounts:a. To increase Store Equipment
1. 2 answers
2. asked by tee
3. 743 views
Which of the following accounts is decreased by a debit entry?a. Accounts Payable b. Cash c. Prepaid Insurance d. Insurance
1. 3 answers
2. asked by Anton
3. 2,888 views
Indicate whether a debit or credit decreases the normal balance of each of the following accounts.Office Supplies- debit Repair
1. 3 answers
2. asked by Kim
3. 6,755 views
June:Sold a house and collected a $6,000 commission. Ans: Cash (debit) Commission earned (credit) Sold a building lot and earned
1. 1 answer
2. asked by Thara!
3. 470 views
debited J.stols with commission for services rendered on this behalf for R200
1. 1 answer
2. asked by nono
3. 307 views
A debit increases the balance in all of the following accounts, except __________.options: cash withdrawals expenses accounts
1. 1 answer
2. asked by Angela
3. 703 views
A debit increases the balance in all of the following accounts except for which one?
1. 1 answer
2. asked by Anonymous
3. 452 views
A debit increases the balance in all of the following accounts except for which one?A. Cash B. Withdrawals C. Expenses D.
1. 1 answer
2. asked by Emi
3. 901 views
A debit increases the balance in all of the following accounts except for which one?A. Cash B. Withdrawals C. Expenses D.
1. 1 answer
2. asked by Emi
3. 1,032 views
In what two ways is the word debit defined in Debits and CreditsIn what two ways is the word credit defined in Debits and
1. 1 answer
2. asked by Sandra M
3. 1,038 views
transactions1.bought machinery for cash rs.50,000 2.payment made to XYZ store rs.10,000by cheque 3.Purchased office furniture on
1. 1 answer
2. asked by mary
3. 386 views
I have to figure out what basic type of account debited and credited, the specific account, whether the account is increased or
1. 2 answers
2. asked by Jamie
3. 1,050 views
What do you debit and credit for the following transactions?1. Repair parts used during January, $4000. (Hint: Debit this to
1. 1 answer
2. asked by Anonymous
3. 396 views
why does the bank tell you they are "crediting" your account when they increase it and "debiting" your account when they
1. 2 answers
2. asked by Anonymous
3. 525 views
If you purchase property and contract a company to construct a building. How would you enter the transaction? I know you would
1. 2 answers
2. asked by Karen
3. 923 views
A friend comes to you with the following plight: “I’m confused. An asset is something positive, and it is increased with a
1. 1 answer
2. asked by Yvette
3. 372 views
Linking debit or credit with normal balanceC5 Indicate whether a debit or credit decreases the normal balance of each of the
1. 2 answers
2. asked by Christi
3. 757 views
Identify whether a debit or credit yields the indicated change for each of the following accounts:a. To increase Store Equipment
1. 3 answers
2. asked by shelly
3. 2,683 views
how can you determine what side is a debit and what side is a creditA debit is an expense that is paid. A credit is income. The
1. 1 answer
2. asked by Joyce
3. 404 views
can u tell me if drawings are a credit or a debitA credit if sold? A debit if bought? Its they owner taken her wages If you take
1. 1 answer
2. asked by claire
3. 349 views
Please double check me.Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Office
1. 2 answers
2. asked by Kim
3. 756 views
Why would certain amounts appear in the debit and others in the credit column of the bank statement. Make it short
1. 1 answer
2. asked anonymously
3. 12 views
Question 2.1The following transactions were taken from the books of Dingo Dry Cleaners for the month of February 20.22 1. The
1. 1 answer
2. asked anonymously
3. 19 views
A debit is listed on the right side or column of an account.True False
1. 1 answer
2. asked anonymously
3. 8 views
A debit is listed on the right side or column of an account.True or False
1. 1 answer
2. asked anonymously
3. 5 views
In accounting, when receipts is greater than payment, is it credit or debit
1. 1 answer
2. asked anonymously
3. 6 views