Accounting Principles Flashcards

Front

To decrease the account balance of a liability account, you would.....

Back

debit the account

Front

To decrease the account balance of the owner's capital account, you would.....

Back

debit the account

Front

To decrease the account balance of an expense account, you would.....

Back

credit the account

Front

To increase the account balance of an owner's capital account, you would.....

Back

credit the account

Front

To increase the account balance of a sales account, you would.....

Back

credit the account

Front

To decrease the account balance of a sales account, you would.....

Back

debit the account

Front

To increase the account balance of an asset account, you would.....

Back

debit the account

Front

To increase the account balance of a liability account, you would.....

Back

credit the account

Front

To decrease the account balance of an asset account, you would.....

Back

credit the account

Front

What is the normal balance of the Accounts Payable account?

Back

Credit