TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased
TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter1: Asset, Liability, Owner’s Equity, Revenue, And Expense Accounts
Section: Chapter Questions
Problem 7E: Describe a transaction that resulted in the following changes in accounts: a. Rent Expense is...
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Indicate the increase and decrease in each account by placing a check mark in the appropriate column.
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