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5. Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Land b. To decrease
5. Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Land b. To decrease Cash c. To increase Fees Earned (Revenues) a. To increase Office Expense e. To decrense Unearned Revenue f. To decrease Prepaid Rent g. To increase Notes Payable h. To decrease Accounts Receivable i. To increase Common Stock j. To increase Store Equipment 6. Accounts Receivable Beginning balance was $12,000, Clients paid the company $10,000 towards their invoices and had an ending balance of $25,000, how much did client's purchase on account. 7. From Worksheet # 3 (Use your answers that you already completed), prepare the Statement of Retained Earnings and Balance sheet. Assume the beginning Retained Earnings was $22,000. 8. What type of accounts go on the Balance Sheet? 9. What type of accounts go on the Income Statement? 5. Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Land b. To decrease Cash c. To increase Fees Earned (Revenues) a. To increase Office Expense e. To decrense Unearned Revenue f. To decrease Prepaid Rent g. To increase Notes Payable h. To decrease Accounts Receivable i. To increase Common Stock j. To increase Store Equipment 6. Accounts Receivable Beginning balance was $12,000, Clients paid the company $10,000 towards their invoices and had an ending balance of $25,000, how much did client's purchase on account. 7. From Worksheet # 3 (Use your answers that you already completed), prepare the Statement of Retained Earnings and Balance sheet. Assume the beginning Retained Earnings was $22,000. 8. What type of accounts go on the Balance Sheet? 9. What type of accounts go on the Income Statement
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