Ask Experts Questions for FREE Help !
Ask
    lynette3535's Avatar
    lynette3535 Posts: 4, Reputation: 1
    New Member
    		  
    #1

    Nov 7, 2008, 11:42 PM
    Debits and Credits
    QS 2-3
    Linking debit or credit with
    Normal balance
    C5
    Indicate whether a debit or credit decreases the normal balance of each of the following accounts:
    a. Office Supplies e. Salaries Expense I. Interest Revenue
    b. Repair Services Revenue f. Owner Capital j. Owner Withdrawals
    c. Interest Payable g. Prepaid Insurance k. Unearned Revenue
    d. Accounts Receivable h. Buildings l. Accounts Payable
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #2

    Nov 8, 2008, 12:30 PM

    The following accounts have a normal Debit balance: Expense, Assets, Dividends

    The following accounts have a normal Credit Balance: Uneaned Revenues, Revenues, Liabilities, Owner's Equity or Shareholder Equity
Not your question? Ask your question View similar questions
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.


Check out some similar questions!

Debits and Credits [ 8 Answers ]

Which is true? Debits increase assets and increase liabilities Credits decrease assets and decrease liabilities Credits decrease assets and increase liabilities Debits decrease liabilities and decrease assets :confused:

Credits and debits [ 3 Answers ]

I am not understanding which items to put under credits and which goes under debits. i.e. cash, accounts receivable, accts payable, rental revenue, supplies expense, etc. I do not understand which items go under which statement. i.e. adjustments, income statement,etc. :(

Credits and Debits [ 1 Answers ]

I wanted to double check my answer for a homework question: On September 30, the Cash account of Value Company had a normal balance of $5,000.00. During September, the account was debited for a total of $12,200 and credited for a total of $11,500. What was the balance in the Cash account at...

Debits and credits [ 2 Answers ]

If I am buying a land for $2,000.. What do I debit, and what do I credit?:confused:

View more questions Search