In each of the following sentences, fill in the blanks with the word debit or credit: 1.
Question:
In each of the following sentences, fill in the blanks with the word debit or credit:
Transcribed Image Text:
1. Revenue accounts normally have ? side and decrease on the ? side. 2. Liability accounts normally have ? side and decrease on the ? side. balances. These accounts increase on the 4. Asset accounts normally have___? decrease on the ? side. balances. These accounts increase on the 3. Expense accounts normally have ? balances. These accounts increase on the side and decrease on the ? side. ? ? ? balances. These accounts increase on the ? side and 5. The owner's capital account normally has a ? balance. This account increases on the ? side and decreases on the ? side.
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 44% (9 reviews)
Answered By
Muhammad Zaher Rasheed
Hi, I am Muhammad Zaher Rasheed from Pakistan. I have good skills in electrical engineering courses that are calculus, differential equation, applied probability , circuit analysis and design, signals and systems, power system analysis etc. I want to help the students who are facing problem in their studies.
Education is a continuous process in which we learn new materials every day. Education will lead all of us to achieve bigger goals. The understanding of nature and our every day life tasks has been simplified through the spread of education.
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
1: Fill in the blanks in each of the following statements: a) Computers process data under the control of instructions called .. b) The three types of programming languages discussed in the chapter...
-
The following transactions for Kramer Corporation occurred during December of the current year. Follow the step-by-step instructions to enter the transactions, process the adjusting entries, and...
-
The capital balances for the partnership of Diaz, Isidro, and Nelson are as follows: Capital-Diaz $1,500,000 Capital-Isidro Capital-Nelson 900,000 600,000 The partners share income in a 2:4:4 ratio....
-
In Exercises use the Trapezoidal Rule and Simpson's Rule to approximate the value of the definite integral for the given value of n. Round your answer to four decimal places and compare the results...
-
What can a taxpayer do to reduce the risk of not being able to utilize a net capital loss or a non-capital loss?
-
Becky loans her brother Ken 55.000, which he intends to use to establish a small business. Because Ken has no other assets and needs cash to establish the business, the agreement provides that Ken...
-
Why will the target customers buy from the business? LO.1
-
1. If you were the CEO of US Airways, what would you do to confront the competition from its low-cost competitors? 2. Can US Airways survive by remaining the same carrier it is today? 3. If you were...
-
Need help with cost of goods sold budget, budgeted income statement, and question 4. All the rest I understand makeAssignment Production Budget The production budget should be integrated with the...
-
Using the Gibbs function data, determine the equilibrium constant KP for the reaction H2 + 1/2 O2 H2O at (a) 298 K and (b) 2000 K. Compare your results with the KP values listed in Table A28.
-
The normal balance side for asset, liability, and owners equity accounts is: a. Left, left, right respectively. b. Left, right, right respectively. c. Right, right, left respectively. d. Right,...
-
Indicate whether each of the following accounts normally has a debit balance or a credit balance: 1. Cash 2. Blaine Brownell, Capital 3. Fee Income 4. Accounts Payable 5. Supplies 6. Equipment 7....
-
Under what circumstances can an offer end before acceptance.
-
1.1 Indonesia is it potential as a market for Apple? 2.1 Examination of Apple's entry strategy into the international market? 2.2 Evaluation of the entry mode(s) employed by Apple and their...
-
Dynamic, a global media agency, has recently taken over MediaHype, a local agency in Melbourne, to expand its Australian operations. Jeff Tan, a Chinese national, has been appointed to head the new...
-
Linear optimization models play a crucial role in improving supply chain management efficiency, both in physical and abstract network problems. Three ways they can be applied are through optimizing...
-
When I consider optimizing the portfolio allocation for both my 403(b) and CALSTRS retirement accounts, I find it crucial to employ a well-structured model to ensure that my investments align with my...
-
How can you use your understanding of diversity to develop your relationship-building skills in your healthcare career?,Explain ways in which religion can help or hinder individuals as they build...
-
Let u = (u 1 , u 2 , u 3 ), v = (v 1 , v 2 , v 3 ), and w = (w 1 , w 2 , w 3 ). Prove the following vector properties, where c is a scalar. |u v| |u | |v|
-
Prove the formula for (d/dx)(cos-1x) by the same method as for (d/dx)(sin-1x).
-
Assume that a firm reports net income of $90,000 prior to making adjusting entries for the following items: expired rent, $7,000; depreciation expense, $8,200; and supplies used, $3,600. Assume that...
-
Assume that a firm reports net income of $90,000 prior to making adjusting entries for the following items: expired rent, $7,000; depreciation expense, $8,200; and supplies used, $3,600. Assume that...
-
Assume that a firm reports net income of $90,000 prior to making adjusting entries for the following items: expired rent, $7,000; depreciation expense, $8,200; and supplies used, $3,600. Assume that...
-
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
-
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
-
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...
Study smarter with the SolutionInn App