A: An increase in an asset is a debit and an increase in an expense is a credit
B: An increase in capital is a debit and an increase in a liability is a credit
C: An increase in an expense is a debit and a reduction in an asset is a credit
D: A reduction in a liability is a debit and an increase in an expense is a credit
举一反三
- Which of the following statements is true? A: A debit records an increase in liabilities. B: A debit records a decrease in assets. C: A credit records an increase in liabilities. D: A credit records an decrease in capital.
- Which of the following is a debit entry? A: Sales B: An increase in a liability C: A decrease in an asset D: An increase in cash
- Unearned Revenue is a ________ account and carries a ________ normal balance. A: liability; credit B: asset; credit C: revenue; debit D: asset; debit
- The purchase of office supplies on account will: （ ）. A: Increase an asset and decrease a liability B: Increase one asset and decrease another asset C: Increase an asset and increase a liability D: Decrease an asset and decrease a liability
- 中国大学MOOC: Incurred but unpaid expenses that are recorded during the adjusting process with a debit to an expense and a credit to a liability are:
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- 0
If Abby, Inc. sells items to a customer who uses a credit card for $1,000, and there is a credit card fee of 1.5%, Abby will record a(n): A: credit to Sales Revenue for $985. B: debit to Accounts Receivable for $985. C: debit to Sales expense for $65. D: debit to Credit Card Discount Expense for $15.
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A company receives £500 of cash as an additional investment in the company by its owner, Mary Smith. The company's Cash account is increased and Mary Smith, Capital is increased. Should the £500 entry to the Cash account and to Mary Smith, Capital be a debit or a credit, respectively? A: a debit; a debit B: a debit; a credit C: a credit; a debit D: a credit; a credit
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An expenditure results either in a(n) ( ) in the asset account or a(n) ( ) in a liability account. A: decrease, decrease B: increase, increase C: increase, decrease D: decrease, increase
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A business must write off an irrecoverable debt of $3,000.What is the journal entry to record this in the nominal ledger? A: Debit Trade receivables $3 ,000; Credit Sales $3,000 B: Debit Sales $3,000; Credit Trade receivables $3 ,000 C: Debit Irrecoverable debt expense $3,000; Credit Trade receivables $3,000 D: Debit Trade receivables $3,000; Credit Sales $3,000
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Remittance of residents to foreigners should be entered as a in account. A: credit, current B: credit, capital C: debit, current D: debit, capital