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Accounting Debit and Credit Principles: Effects on Different Account Classifications

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Finance - Personal Finance

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michael1tekrzp Created by 10 mon ago

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Cards in this deck(33)
In accounting, what is the effect of a debit on the Cash in Bank account?
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What is the effect of a credit on the Accounts Payable account?
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How does a credit affect the Accounts Receivable account?
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What is the impact of a credit on the Capital account?
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How does a credit affect the Assets account?
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What is the effect of a credit on the Owner's Equity account?
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In accounting, what is the effect of a debit on the Office Equipment account?
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What is the balance side of the Accounts Payable account when credited?
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How does a debit affect the Accounts Payable account?
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What is the effect of a debit on the Liabilities account?
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In accounting, what is the effect of a debit on the Accounts Receivable account?
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What is the balance side of the Bank account when debited?
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What is the balance side of the Capital account when credited?
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How does a credit affect the Liabilities account?
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What is the effect of a debit on the Capital account?
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How is Office Equipment classified in accounting?
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How is Accounts Receivable classified in accounting?
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How is Accounts Payable classified in accounting?
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How is Cash in Bank classified in accounting?
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How is Capital classified in accounting?
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How is Delivery Equipment classified in accounting?
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How are Investments by Owner classified in accounting?
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What is the typical accounting entry for a purchase?
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What is the effect of a debit on the Drawings account?
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How is Revenue classified in accounting?
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How are Expense Accounts classified in accounting?
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How are Drawings classified in accounting?
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Compare and contrast the decrease in relation to asset and revenue.
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What is the effect of a debit on the Wages Expense account?
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What is the effect of a credit on the Fees Income account?
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What is the normal balance side of the Revenue account?
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What is the normal balance side of the Expense Accounts?
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What is the normal balance side of the Withdrawal Accounts?
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