Week 2 Debits and Credits Checkpoint ACC225

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

Info icon This preview shows page 1. Sign up to view the full content.

View Full Document Right Arrow Icon
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.
Image of page 1
This is the end of the preview. Sign up to access the rest of the document.

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...
View Full Document

{[ snackBarMessage ]}

What students are saying

  • Left Quote Icon

    As a current student on this bumpy collegiate pathway, I stumbled upon Course Hero, where I can find study resources for nearly all my courses, get online help from tutors 24/7, and even share my old projects, papers, and lecture notes with other students.

    Student Picture

    Kiran Temple University Fox School of Business ‘17, Course Hero Intern

  • Left Quote Icon

    I cannot even describe how much Course Hero helped me this summer. It’s truly become something I can always rely on and help me. In the end, I was not only able to survive summer classes, but I was able to thrive thanks to Course Hero.

    Student Picture

    Dana University of Pennsylvania ‘17, Course Hero Intern

  • Left Quote Icon

    The ability to access any university’s resources through Course Hero proved invaluable in my case. I was behind on Tulane coursework and actually used UCLA’s materials to help me move forward and get everything together on time.

    Student Picture

    Jill Tulane University ‘16, Course Hero Intern