Question
For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance. Debit Effect Credit
For each of the following accounts, indicate the effect of a debit or a credit on the account and the normal balance.
| Debit Effect | Credit Effect | Normal Balance | ||||||
|---|---|---|---|---|---|---|---|---|
| a. | Accounts Payable. | select between increase and decrease DecreaseIncrease | select between increase and decrease IncreaseDecrease | select between credit and debit CreditDebit | ||||
| b. | Advertising Expense. | select between increase and decrease IncreaseDecrease | select between increase and decrease IncreaseDecrease | select between credit and debit CreditDebit | ||||
| c. | Service Revenue. | select between increase and decrease IncreaseDecrease | select between increase and decrease DecreaseIncrease | select between credit and debit CreditDebit | ||||
| d. | Accounts Receivable. | select between increase and decrease IncreaseDecrease | select between increase and decrease DecreaseIncrease | select between credit and debit CreditDebit | ||||
| e. | Retained Earnings. | select between increase and decrease IncreaseDecrease | select between increase and decrease DecreaseIncrease | select between credit and debit CreditDebit | ||||
| f. | Dividends. | select between increase and decrease DecreaseIncrease | select between increase and decrease IncreaseDecrease | select between credit and debit CreditDebit |
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Sound Investing, Chapter - Classification Deceit
Authors: Kate Mooney
2nd Edition
0071719385, 9780071719384
