Cash debit or credit increase
Chapter 05 Consumer Credit: Advantages, Disadvantages ...
B. Credit can increase the amount of money that will be available to spend in the future. C. Credit sometimes occurs automatically, such as for telephone usage. D. Credit usually makes returning merchandise easier than returning cash purchases. E. Credit allows consumers to enjoy goods and services now and pay later.
[DOC File]DEBITS & CREDITS
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Debit Credit. 8. A negative Cash balance will have this account balance. Debit Credit. 9. Will increase the account Inventory. Debit Credit. 10. The expected balance in the account Petty Cash. Debit Credit. 11. The usual entry for an expense. Debit Credit. 12. Will increase a liability account. Debit Credit. 13. An entry on the left side of an ...
[DOCX File]LaVerne Funderburk, CPA
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Determine whether each of the following is a debit or credit using this code: DR=debit; CR=credit. ... The decrease side of Prepaid Insurance. 3. The increase side of Petty Cash. 4. The balance side of Transportation In. 5. The increase side of Purchases Returns & Allowances. 6. The increase side of Sales Taxes Payable. 7. The balance side of Sales
[DOC File]What are debits and credits
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Aug 30, 2009 · Cash Sale-customer pays at the time of sale The business gets cash or a check from their customer and gives up a product or service to their customer. Here, as the business gets cash, Cash A/c which is an asset a/c is increased on the debit side. Accounts Used: Debit: Cash Credit: Sales . Purchase goods and/or services
[DOC File]QS 2-3 Indicate whether a debit or credit decreases the ...
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May 08, 2009 · Accounts payable - Debit. QS 2-4 . Identify whether a debit or credit yields the indicated change for each of the following accounts: To increase store equipment - Debit. To increase owner withdrawals - Debit. To decrease cash- Credit. To increase utilities expense - Debit. To increase fees earned - Credit. To decrease unearned revenue - Debit ...
[DOC File]Accounting I Final Question and Answers:
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Cash, debit; Wages Expense, credit The balance in the office supplies account on June 1 was $5,200, supplies purchased during June were $2,500, and the supplies on hand at June 30 were $2,000. The amount to be used for the appropriate adjusting entry is _________.
[DOC File]FA Chapter 2 SM
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Amount that account(s) is overstated or understated a. $3,600 debit to Rent Expense is posted as a $1,340 debit. $2,260 credit Rent Expense Rent Expense is understated by $2,260 b. $6,500 credit to Cash is posted twice as two credits to Cash. $6,500 credit Cash Cash is understated by $6,500 c. $10,900 debit to the Dividends account is debited ...
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