Accounting Review
Chapter 4
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Choose Your Topic
• Debits
• Credits
Debits are on what side of the TAccount?
• Left
• Right
What side to Debits increase on?
• Right or credit side
• Left or debit side
Which statement is true about
Debit/Asset accounts?
• All asset accounts have a debit increase side
• You can only have 3 asset accounts
• Not all asset accounts have a debit increase
side
• You always add to asset accounts
What do debits increase?
•
•
•
•
Common Stock
Assets
Liabilities
Owner’s Equity
Which account is not a debit increase
account?
•
•
•
•
Accounts Payable
Accounts Receivable
Land
Expenses
If you bought supplies on account what
would the transaction look like?
• Decrease to supplies, increase to accounts
payable
• Increase to supplies, increase to accounts
payable
• Decrease to supplies, decrease to accounts
payable
• Increase to supplies, decrease to accounts
payable
What is the Credit side of the TAccount?
• Left
• Right
What side do credits increase on?
• Right or credit side
• Left or debit side
What do credits decrease?
•
•
•
•
Assets
Retained Earnings
Liabilities
Common Stock
Which account is not a credit decrease
account?
•
•
•
•
Supplies
Accounts Receivable
Retained Earnings
Land
If you bought Common Stock for cash
what would the transaction be?
•
•
•
•
Decrease to common stock, decrease to cash
Increase to common stock, decrease to cash
Increase to common stock, increase to cash
Decrease to common stock, increase to cash
Section Complete
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time. Keep your head
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right
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good work!!!
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Next Question
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AWW Man
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time. Keep your head
up!!
Back to question
• Go back and try it again, I know you’ll get it
right
Go back to question
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good work!!!
Go to next question
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Next Question
Finished
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• If you have any more questions make sure
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