Essay
For each item below, indicate whether a debit or a credit applies.
a. Decrease in Accounts Payable
b. Decrease in Land
c. Increase in Owner's Capital
d. Increase in Unearned Revenue
e. Decrease in Interest Payable
f. Increase in Prepaid Insurance
g. Increase in Wages Expense
h. Decrease in Art Supplies
i. Increase in Advertising Fees Earned
Correct Answer:

Verified
a. Debit
b. Credit
c...View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Correct Answer:
Verified
b. Credit
c...
View Answer
Unlock this answer now
Get Access to more Verified Answers free of charge
Q15: A $4,000 machine is purchased by paying
Q38: The account most recently posted is determined
Q69: Here is the trial balance for McLeary
Q72: The Office Supplies account is classified as
Q77: For a T account,an account balance is
Q89: Why is the Owner's Withdrawals account increased
Q97: Which of the following is not a
Q99: Posting is performed by transferring information from
Q115: Which of the following accounts will eventually
Q164: Briefly discuss the differences between Prepaid Insurance