Accounting Chp 2 Analyzing Transactions

Front

A drawing account is increased by debits and increased by credits.

Back

True

Front

Accounts Payable accounts are increased with a credit.

Back

True

Front

Is the owner's equity account increased on the debit side because the owner's capital account has a normal balance on the debit side?

Back

False

Front

Asset accounts decrease on the debit side (True/False)

Back

False

Front

Cash is an asset account with a normal credit balance.

Back

False

Front

Each liability account has a normal debit balance.

Back

False

Front

Increase in revenue accounts are recorded as credits, because they increase the owner's capital account.

Back

True

Front

Is drawing decreased with a debit?

Back

False

Front

The right side of a liability account is the normal balance side, because liabilities are on the right side of the accounting equation.

Back

True

Front

Increase in revenue accounts are recorded as debits, because they increase the owner's capital account. (True/False)

Back

False