Accounting debit and credit chart

    • [DOC File]Accounting Adjusting Entries, Posting and Preparing an ...

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      Jan 13, 2010 · Accounting Adjusting Entries, Posting and Preparing an Adjusted Trial Balance MASASI COMPANY, INC. Trial Balance June 30, 2008 Account Number Debit Credit 101 Cash $ 7,150 112 Accounts Receivable 6,000 126 Supplies 2,000 130 Prepaid Insurance 3,000 157 Office Equipment 15,000 201 Accounts Payable $ 4,500 209 Unearned Service Revenue 4,000 311 Common Stock …

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    • [DOC File]UIL ACCOUNTING - Funderburk, CPA

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      CREDIT. DEBIT CREDIT. Prepaid Insurance #15 450 Supplies 780 200 Merchandise Inventory 8,750 #16 Income Summary 2,510 Insurance Expense 1,800 Supplies Expense #17 Group 4. The following chart summarizes the activity in the petty cash fund of a business for four months.

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    • [DOC File]COR404 Accounts Receivable - Receivable Maintenance Manual

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      Entry Reason – further define the accounting entries for the Debit/Credit memo by selecting the appropriate Entry Reason for the action being taken. AR Dist - enter the distribution code that governs the Chartfields that are used when the system generates accounting entries.

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    • [DOCX File]Accounting - Nebraska

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      Contact State Accounting for object accounts at a level of detail of 5 and below. This will maintain the history of the account for future reference. Navigation: Accounting > Organizational Structure > Chart of Accounts > Add Accounts to Business Units. Entering and Using Model Journal Entries. Enter a Model Journal Entry Lesson. Procedure

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    • [DOC File]SUMMARY OF ACCOUNTING BASICS - Washburn University

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      term liability Credit Balance sheet Work In Process Current asset Debit Balance sheet The Basics. 1. Accounting Equation: Assets = Liabilities + Owner’s Equity. 2. T Account: Account Title. Left Side. debit Right Side. credit 3. Rules of Debit and Credit: Balance Sheet Accounts ASSETS. Asset Accounts LIABILITIES. Liability Accounts Debit. for ...

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    • [DOC File]DEBITS & CREDITS

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      DEBIT OR CREDIT. 1. An entry on the right side of an account. Debit Credit. 2. Will increase an asset account. Debit Credit. 3. Will decrease the balance in Accounts Payable. Debit Credit. 4. A general journal entry will have this listed first. Debit Credit. 5. The normal balance for Rent Expense. Debit Credit. 6. To decrease Accounts ...

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    • [DOC File]Chapter 02 Analyzing and Recording Transactions

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      The first step in the analyzing and recording process is to analyze each transaction and event from source documents. ... Are based on accounting entries E. Include the chart of accounts ... Indicate whether a debit or credit entry would be made to record the following changes in each account. a. To decrease Cash b.

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    • [DOC File]HINTS FOR LOCATING ACCOUNTING ERRORS

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      You discover a purchase your company made on account for that exact amount, but you only debited purchases for $520 and made no credit to accounts payable. Or maybe you got the journal entry correct, debiting purchases for $520 and crediting accounts payable, but for some reason you added an additional debit of $520 to inventory.

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    • [DOC File]Report

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      five chart of account categories is to be a debit or credit, or whether the transaction will have a positive or a negative effect on the balance of the particular account. The following accounting rules will assist when deciding whether the transaction should be a debit or a credit:

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    • [DOCX File]chapter

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      It introduces students to the rules of debit and credit, chart of accounts, two-column journals, four-column ledgers, T accounts, and the trial balance. Quite frankly, if students fail to grasp the concepts in this chapter, the first seeds of destruction will be sown for those students who will ultimately withdraw from or fail the course.

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