Under a double-entry system, show how the entry in each statement is entered in the ledger by
Question:
Under a double-entry system, show how the entry in each statement is entered in the ledger by using debit or credit to indicate the increase or decrease in the affected account.
Debit or Credit
1.
An increase in Salaries and Wages Payable.
___________________
2.
A decrease in Accounts Receivable.
___________________
3.
An decrease in Prepaid Insurance.
___________________
4.
An decrease in Owner's Capital.
___________________
5.
A increase in Office Supplies.
___________________
6.
An increase in Owner's Drawings.
___________________
7.
An increase in Service Revenue.
___________________
8.
A increase in Accounts Payable.
___________________
9.
An increase in Rent Expense.
___________________
10.
A decrease in Store Equipment.
___________________
11. An Increase in Cash
___________________
12. An decrease in Retained Earnings
___________________
13. A decrease in Unearned Revenue
___________________
14. A increase in Notes Receivable
___________________
15. An increase in Sales Tax Payable
___________________
16. An increase in Travel Expense
___________________
17. An increase in Common Stock
___________________
18. An increase in Merchandise Inventory
___________________
19. A increase in Stock Investments
___________________
20. An decrease in Dividends Payable
Intermediate Accounting
ISBN: 978-0077400163
6th edition
Authors: J. David Spiceland, James Sepe, Mark Nelson