or Credit Flashcards

Terms Definitions
REVENUE
CREDIT
ASSETS
DEBIT
Expenses
Debit
Asset
Debit
ACCOUNTS RECEIVABLE
DEBIT
PREPAID ACCOUNTS
DEBIT
Decrease in Expenses
Credit
Increase in Assets
Debit
Increase in Expenses
Debit
Decrease in Assets
Credit
Decrease in Retained Earnings
Debit
Increase Building
Asset - Debit
Increase Equipment
Asset - Debit
Decrease Equipment
Asset - Credit
Increase Dividend Income
Revenue - Credit
Increase Fees Earned
Revenue - Credit
Increase Salaries Expense
Expense - Debit
Increase Salaries Payable
Liability - Credit
Increase Sales Revenue
Revenue - Credit
Increase Utilities Expense
Expense - Debit
Increase Prepaid Insurance
Asset - Debit
Increase Loan Receivable
Asset - Debit
Increase Mortgage Payable
Liability - Credit
Increase Interest Revenue
Revenue - Credit
Decrease Mortgage Payable
Liability - Debit
Decrease Note Payable
Liability - Debit
Decrease Fees Earned
Revenue - Debit
Decrease Commissions Expense
Expense - Credit
Decrease Prepaid Insurance
Asset - Credit
Decrease Accounts Receivable
Asset - Credit
Decrease Utilities Expense
Expense - Credit
Decrease Supplies on Hand
Asset - Credit
Increase Audit Fees Incurred
Expense - Debit
Decrease Bank Loan Payable
Liability - Debit
Decrease Property Taxes Payable
Liability - Debit
Increase Property Taxes Payable
Liability - Credit
Decrease Property Tax Expense
Expense - Credit
Increase Common Stock
Owners' Equity (Owners' Investments) - Credit
Increase Retained Earnings
Owners' Equity (Earned Capital) - Credit
Decrease Common Stock
Owners' Equity (Owners' Investments) - Debit
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Term:
Definition:
Definition:

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