Week 2 Debits and Credits Checkpoint ACC225

Week 2 Debits and Credits Checkpoint ACC225 - To increase...

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Quick Study questions 2-3 a. Office Supplies – Increase debit, decrease credit b. Repair Services Revenue- Increase credit, decrease debit c. Interest Payable – Increase credit, decrease debit d. Accounts Receivable- Increase debit, decrease credit e. Salaries Expense- Increase debit, decrease credit f. Owner Capital- Increase credit, decrease debit g. Prepaid Insurance- Increase debit, decrease credit h. Buildings- Increase debit, decrease credit i. Interest Revenue- Increase credit, decrease debit j. Owner Withdrawals- Increase debit, decrease credit k. Unearned Revenue- Increase Credit, decrease debit l. Accounts Payable- Increase credit, decrease debit Quick Study questions 2-4 a.
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Unformatted text preview: To increase Store Equipment -Debit b. To increase Owner Withdrawals -Debit c. To decrease Cash -Credit d. To increase Utilities Expense-Debit e. To increase Fees Earned -Credit f. To decrease Unearned Revenue-Debit g. To decrease Prepaid Insurance-Credit h. To increase Notes Payable-Credit i. To decrease Accounts Receivable-Credit j. To increase Owner Capital-Debit Quick Study questions 2-5 a. Office supplies (Debit) - Correct b. Owner Withdrawals (Credit) - Incorrect c. Fees Earned (Debit)-Incorrect d. Wages Expense (Credit)-Incorrect e. Cash (Debit)-Correct f. Prepaid Insurance (Credit)-Incorrect g. Wages Payable (Credit)-Correct h. Building (Debit)-Correct...
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