Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th
14th Edition
ISBN: 9781305878839
Author: Carl Warren, Jonathan Duchac, James M. Reeve
Publisher: Cengage Learning
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Chapter 2, Problem 2.4EX
Rules of debit and credit
The following table summarizes the rules of debit and credit. For each of the items A through L, indicate whether the proper answer is a debit or a credit.
| Increase | Decrease | Normal Balance | |
| Asset | A | B | Debit |
| Liability | C | Debit | D |
| Stockholders’ equity: | |||
| Common Stock | Credit | E | F |
| G | H | Credit | |
| Dividends | Debit | Credit | 1 |
| Income statement accounts: | |||
| Revenue | J | K | Credit |
| Expense | L | Credit | Debit |
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Chapter 2 Solutions
Working Papers for Warren/Reeve/Duchac's Corporate Financial Accounting, 14th
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