Debits & Credits
About this set
Created by:
gracebrady on October 10, 2010
Subjects:
Classes:
Accounting II, Mrs. Perry's Accounting
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40 terms
Terms | Definitions |
|---|---|
 debit | Increase cash |
| debit | Increase expenses |
| credit | Increase revenue |
| debit | Increase accounts receivable |
| credit | Increase accounts payable |
| debit | Increase withdrawals by owner |
| debit | Decrease owner's equity |
| credit | Decrease accounts receivable |
| debit | Decrease accounts payable |
| debit | Paid utilities bill: ________ utilities expense |
| credit | Received cash for services performed: _______ revenue |
| credit | Wrote a check:________ cash in bank |
| debit | Bought a computer on account:________ computer equipment |
| debit | Received cash for services performed: ______ cash in bank |
| credit | Wrote a check to the owner: ______ cash in bank |
| credit | Owner invested $30,000 to start the business: _______ capital |
| debit | Wrote a check for office supplies:________ office supplies |
| debit | Bought office supplies on account: ________ office supples |
| credit | Bought a computer on account:_________ accounts payable |
| debit | Paid weekly salaries: _________ salary expense |
| credit | Paid bank service charge: ________ cash in bank |
| credit | Wrote check #4231 for October rent: _______ cash in bank |
| debit | Billed a customer for services performed last week: __________ accounts receivable |
| debit | Received payment for services on account: ________ accounts payable |
| credit | Received a check for services performed today: _______ revenue |
| utilities expense | Paid electric bill: debit ________ |
| accounts receivable | Received a check for services billed last month: credit _________ |
| withdrawals | Wrote a check to the owner for their vacation: debit ________ |
| accounts receivable | Received check #6357 for services performed and billed last month: credit _________ |
| cash in bank | Paid for office supplies bought 2 months ago: credit _________ |
| accounts payable | Bought 10 reams of paper on account: credit _________ |
| cash in bank | Wrote a check for an oil change on the delivery van: credit ________ |
| withdrawals | Gave $200 cash to the owner: debit ________ |
| revenue | Received $798 for work performed today: credit __________ |
| salaries expense | Wrote check for $1,890 for this week's wages: debit ________ |
| cash in bank | Received check for $123.56 for returned copier cartridge: debit ________ |
| accounts payable | Paid bill for new cash register purchased 2 months ago: debit _________ |
| capital | The owner brought a couch from home for use in the staff lunch room: credit ________ |
| cash in bank | Journalized entry to fix accidental credit to cash in bank: debit ________ |
| cash in bank | Check received from a customer bounced at the bank: credit _________ |
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