HW_1 - Due January 31st (DUE in CLASS) Name: _ Circle Class...

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Due January 31st Name: _________________________________ (DUE in CLASS) Circle Class Time: 8:00 9:30 12:30 Accounting 200 Homework Assignment #1 - (10 points) Part 1 Follow the example given to answer the 5 questions of this Part; you will fill in the first space with “increases” or “decreases”. You will fill in the second space for each question by describing the type of account involved (there are 6 types of accounts: asset, liability, equity, revenue, expense and dividends). Example: A credit to Supplies decreases the account because Supplies is a(n) asset. 1. A debit to Cash ___________________ the account, because Cash is a(n) _________________. 2. A credit to Accounts Payable _________________ the account because Accounts Payable is a(n) ______________________. 3. A debit to Salaries Expense _________________ the account because Salaries Expense is a(n) ______________________. 4.
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This note was uploaded on 05/09/2008 for the course ACCT 200 taught by Professor Cohen during the Spring '07 term at Arizona.

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HW_1 - Due January 31st (DUE in CLASS) Name: _ Circle Class...

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