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Indicate Whether a Debit or Credit Entry Would Be Required

Question 178

Matching

Indicate whether a debit or credit entry would be required to record the following changes in each account.

Premises:

Responses:

To increase Salaries Expense.

Debit

To decrease Cash

Credit

To decrease Accounts Receivable.

To increase Owner, Capital

To increase Owner, Withdrawals.

To decrease Accounts Payable.

To decrease Supplies.

To increase Revenue.

Premises:

To increase Salaries Expense.

To decrease Cash

To decrease Accounts Receivable.

To increase Owner, Capital

To increase Owner, Withdrawals.

To decrease Accounts Payable.

To decrease Supplies.

To increase Revenue.

Responses:

Debit

Credit

Correct Answer:

Premises:

Responses:

To increase Salaries Expense.

To decrease Cash

To decrease Accounts Receivable.

To increase Owner, Capital

To increase Owner, Withdrawals.

To decrease Accounts Payable.

To decrease Supplies.

To increase Revenue.

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