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ion) eBook 4 Debit Debit v2.cengagenow.com Drawing Print Item Credit Credit Debit Debit Revenue + Credit Debit Credit Debit 2. Under each T account for the accounts under the classifications, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification and select either a plus or minus sign on the right side to indicate whether a Credit increases or decreases the classification.. 3. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'h'). 4. Foot and balance the accounts. < Bal. Bal Debit 33,000 +4 Cash Accounts Payable X + Debit Credit 130 X 9,640 Exercise Equipment Bal. G. Elden, Capital x Debit Credit Debit 9,640 ✔ Store Equipment Bal.. x Credit 270 X + Credit 2,390 X Income from Services x Debit Credit Debit 770 V Bal. Office Equipment Debit Credit 450 V Bal. x Credit Bal. Advertising Expense F Debit Credit 130 V Bal. Check My Work 1. Debit is the left side of a T-account and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. 2. Debit is the left side of a Traccount and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. f. This transaction is an owner contribution. Check My Work 2 more Check My Work uses remaining Previou All work saved 93% E

ion) eBook 4 Debit Debit v2.cengagenow.com Drawing Print Item Credit Credit Debit Debit Revenue + Credit Debit Credit Debit 2. Under each T account for the accounts under the classifications, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification and select either a plus or minus sign on the right side to indicate whether a Credit increases or decreases the classification.. 3. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'h'). 4. Foot and balance the accounts. < Bal. Bal Debit 33,000 +4 Cash Accounts Payable X + Debit Credit 130 X 9,640 Exercise Equipment Bal. G. Elden, Capital x Debit Credit Debit 9,640 ✔ Store Equipment Bal.. x Credit 270 X + Credit 2,390 X Income from Services x Debit Credit Debit 770 V Bal. Office Equipment Debit Credit 450 V Bal. x Credit Bal. Advertising Expense F Debit Credit 130 V Bal. Check My Work 1. Debit is the left side of a T-account and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. 2. Debit is the left side of a Traccount and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. f. This transaction is an owner contribution. Check My Work 2 more Check My Work uses remaining Previou All work saved 93% E

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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ion) eBook 4 Debit Debit v2.cengagenow.com Drawing Print Item Credit Credit Debit Debit Revenue + Credit Debit Credit Debit 2. Under each T account for the accounts under the classifications, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification and select either a plus or minus sign on the right side to indicate whether a Credit increases or decreases the classification.. 3. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'h'). 4. Foot and balance the accounts. < Bal. Bal Debit 33,000 +4 Cash Accounts Payable X + Debit Credit 130 X 9,640 Exercise Equipment Bal. G. Elden, Capital x Debit Credit Debit 9,640 ✔ Store Equipment Bal.. x Credit 270 X + Credit 2,390 X Income from Services x Debit Credit Debit 770 V Bal. Office Equipment Debit Credit 450 V Bal. x Credit Bal. Advertising Expense F Debit Credit 130 V Bal. Check My Work 1. Debit is the left side of a T-account and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. 2. Debit is the left side of a Traccount and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. f. This transaction is an owner contribution. Check My Work 2 more Check My Work uses remaining Previou All work saved 93% E
Transcribed Image Text:ion) eBook 4 Debit Debit v2.cengagenow.com Drawing Print Item Credit Credit Debit Debit Revenue + Credit Debit Credit Debit 2. Under each T account for the accounts under the classifications, select either a plus or minus sign on the left side to indicate whether a Debit increases or decreases the classification and select either a plus or minus sign on the right side to indicate whether a Credit increases or decreases the classification.. 3. Record the amounts in the proper positions in the T accounts. Record the amounts in the order given (letters 'a' through 'h'). 4. Foot and balance the accounts. < Bal. Bal Debit 33,000 +4 Cash Accounts Payable X + Debit Credit 130 X 9,640 Exercise Equipment Bal. G. Elden, Capital x Debit Credit Debit 9,640 ✔ Store Equipment Bal.. x Credit 270 X + Credit 2,390 X Income from Services x Debit Credit Debit 770 V Bal. Office Equipment Debit Credit 450 V Bal. x Credit Bal. Advertising Expense F Debit Credit 130 V Bal. Check My Work 1. Debit is the left side of a T-account and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. 2. Debit is the left side of a Traccount and credit is the right side of a T-account. Assets, drawing, and expenses increase (+) on the debit side and decrease (-) on the credit side. Liabilities, capital, and revenue decrease (-) on the debit side and increase (+) on the credit side. f. This transaction is an owner contribution. Check My Work 2 more Check My Work uses remaining Previou All work saved 93% E
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