Debits/Credits Flashcards

(42 cards)

0
Q

Accounts Receivable

A

Asset

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
1
Q

Accounts Payable

A

Liability

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
2
Q

Accumulated Depreciation

A

Contra Asset

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
3
Q

Advertising Expense

A

Expense

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
4
Q

Allowance for Uncollectible Accounts

A

Contra Asset

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
5
Q

Amortization Expense

A

Expense

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
6
Q

Available for Sale Securities

A

Asset

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
7
Q

Bonds Payable

A

Liability

Credits Increase

Debits Decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
8
Q

Building

A

Asset

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
9
Q

Capital Stock

A

Equity

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
10
Q

Cash

A

Asset

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
11
Q

Cash over

A

Revenue

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
12
Q

Cash short

A

Liability

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
13
Q

Charitable Contributions Payable

A

Liability

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
14
Q

Common Stock

A

Equity

Credits increase

Debits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
15
Q

Currency Exchange Loss

A

Loss

Debits increase

Credits decrease

How well did you know this?
1
Not at all
2
3
4
5
Perfectly
16
Q

Depreciation Expense

A

Expense

Debits increase

Credits decrease

17
Q

Discount on Bonds Payable

A

Liability

Credits increase

Debits decrease

18
Q

Discount on Notes Payable

A

Contra liability

Debits increase

Credits decrease

19
Q

Dividend Income

A

Revenue

Credits increase

Debits decrease

20
Q

Dividends

A

Dividend

Debits increase

Credits decrease

21
Q

Dividends Payable

A

Liability

Credits increase

Debits decrease

22
Q

Employee Benefit Expense

A

Expense

Debits increase

Credits decrease

23
Q

Equipment

A

Asset

Debits increase

Credits decrease

24
Federal Income Tax Payable
Liability Credits increase Debits decrease
25
Federal Unemployment Tax Payable
Liability Credits increase Debits decrease
26
Freight in
Part of calculation of net purchase (expense) Debits increase Credits increase
27
Freight out
Expense Debits increase Credits decrease
28
Fuel expense
Expense Credits increase Debits decrease
29
Gain
Gain Credits increase Debits decrease
30
Health/child flex payable
Liability Credits increase Debits decrease
31
Income summary
Not a financial statement account Credit for total revenue Debit for total expense
32
Insurance expense
Expense Debits increase Credits decrease
33
Insurance payable
Liability Credits increase Debits decrease
34
Interest expense
Expense Debits increase Credits decrease
35
Interest income
Revenue Credits increase Debits decrease
36
Interest payable
Liability Credits increase Debits decrease
37
Interest receivable
Asset Debits increase Credits decrease
38
Inventory
Asset Debits increase Credits decrease
39
Investment in bond
Asset Debits increase Credits decrease
40
Investment income
Revenue Credits increase Debits decrease
41
Investment
Asset Debits increase Credits decrease