Principles of Financial Accounting.
Principles of Financial Accounting.
22nd Edition
ISBN: 9780077632892
Author: John J. Wild
Publisher: McGraw Hill
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Chapter 2, Problem 5QS

Linking debit or credit with

normal balance

C4

Indicate whether a debit or credit decreases the normal balance of each of the following accounts.

a. Interest Payable

b. Service Revenue

c. Salaries Expense

d. Accounts Receivable

e. Owner, Capital

f. Prepaid Insurance

g. Buildings

h. Interest Revenue

i. Owner, Withdrawals

j. Unearned Revenue

k. Accounts Payable

l. Land

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What is an account receivable? O a. Sales O b. Asset Oc. Income O d. Creditors
TOPIC: Rules of Debit and Credit Instruction: Identify the classification of account. And Choose the letter of the correct answer. Questions: 1. Other Revenue a. Assetsb. Liabilitiesc. Equityd. Income e. Expense 2. Prepaid Renta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 3. Allowance for Doubtful Accountsa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 4. Depreciationa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 5. Delivery Equipmenta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 6. Used Shop Suppliesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 7. Utilities Expensea. Assetsb. Liabilitiesc. Equityd. Income e. Expense 8. Salaries and Wagesa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 9. Beverage Inventorya. Assetsb. Liabilitiesc. Equityd. Income e. Expense 10. Uncollectible Accounta. Assetsb. Liabilitiesc. Equityd. Income e. Expense 11. Landa. Assetsb. Liabilitiesc. Equityd. Income e. Expense 12. Accounts Receivablea. Assetsb. Liabilitiesc. Equityd.…
A credit is used to increase which of the following accounts? a. Dividends. b. Insurance Expense. c. Cash. d. Service Revenue.

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Principles of Financial Accounting.

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