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Indicate Whether a Debit or Credit Entry Would Be Required

Question 293

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

Premises:

Responses:

To decrease Cash

debit

To increase Common Stock

credit

To decrease Accounts Payable.

To increase Salaries Expense.

To decrease Supplies.

To increase Revenue.

To decrease Accounts Receivable.

To increase Dividends.

Premises:

To decrease Cash

To increase Common Stock

To decrease Accounts Payable.

To increase Salaries Expense.

To decrease Supplies.

To increase Revenue.

To decrease Accounts Receivable.

To increase Dividends.

Responses:

debit

credit

Correct Answer:

Premises:

Responses:

To decrease Cash

To increase Common Stock

To decrease Accounts Payable.

To increase Salaries Expense.

To decrease Supplies.

To increase Revenue.

To decrease Accounts Receivable.

To increase Dividends.

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