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TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased

TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased

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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Indicate the increase and decrease in each account by placing a check mark in the appropriate column.
TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased
Transcribed Image Text:TRANSACTIONS DEBIT CREDIT 1.Cash is increased 2. Capital is increased 3.Rent expense in increased 4. Equipment is increased 5. Service Income is increased 6. Prepaid Rent is increased 7. Accounts Receivable is increased 8. Accounts Payable is increased 9. Cash is decreased 10.Capital is decreased 11. Rent expense is decreased 12. Equipment is decreased 13.Service Income is decreased 14. Accounts receivable is decreased 15. Accounts payable is decreased
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