For each of the following accounts, identify whether a debit or credit yields the indicated changea. To increase Fees Earned?b. To decrease Cash?c. To decrease Unearned Revenue?d. To increase Accounts Receivable?e. To increase Common Stock?f. To decrease Notes Payable?g. To increase Prepaid Rent?h. To increase Salaries Expense?i. To increase Accounts Payable?j. To decrease Prepaid Insurance?
What will be an ideal response?
| a. To increase Fees Earned | credit |
| b. To decrease Cash | credit |
| c. To decrease Unearned Revenue | debit |
| d. To increase Accounts Receivable | debit |
| e. To increase Common Stock | credit |
| f. To decrease Notes Payable | debit |
| g. To increase Prepaid Rent | debit |
| h. To increase Salaries Expense | debit |
| i. To increase Accounts Payable | credit |
| j. To decrease Prepaid Insurance | credit |
You might also like to view...
Which of the following capital expenditure planning and control techniques has been criticized because it might mistakenly imply that the earnings are reinvested at the rate of return earned by the investment
a. Accounting rate of return. b. Internal rate of return. c. Net present value method. d. Payback method.
________ brands are brands that are managed and owned by the manufacturer rather than a reseller.
Fill in the blank(s) with the appropriate word(s).
Knowing the college is on the verge of a financial crisis, a few of the older professors get together and decide that they can help. Which option will they choose?
A. Retraining causes comparatively more human suffering than other options. B. Transfers cause the least amount of human suffering. C. A hiring freeze causes immense human suffering. D. Early retirement causes relatively less human suffering. E. The human suffering after pay reduction is relatively low.
A lower of cost or market write-down would be recorded with a debit to Cost of Goods Sold.
Answer the following statement true (T) or false (F)