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Accy 201 Burney Exam 1 || A+ GRADED

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Debit correct answers Left column of T chart Credit correct answers Right column of T chart Debit correct answers What type of transaction is an increase in assets (debit or credit)? Credit correct answers What type of transaction is a decrease in assets (debit or credit)? Ledger correct answers What you call a recorded group of accounts for a business entity Asset correct answers What type of account are prepaid expenses/insurance placed with? Liability correct answers What type of account is unearned revenue placed with? Credit correct answers What type of transaction (credit or debit) shows an increase in stockholders equity? Debit correct answers What type of transaction (credit or debit) shows an increase in an Expense account? Debit correct answers What is the normal balance for an asset account? Credit correct answers What is the normal balance for a liability account? Credit correct answers What is the normal balance for a stockholders equity account? Credit correct answers What is the normal balance for a retained earnings account? Debit correct answers What is the normal balance for a dividend account? Debit correct answers What is the normal balance for an expense account? Credit correct answers What is the normal balance for a revenue account?

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Accy 201 Burney Exam 1 || A+ GRADED
Debit correct answers Left column of T chart

Credit correct answers Right column of T chart

Debit correct answers What type of transaction is an increase in assets (debit or
credit)?

Credit correct answers What type of transaction is a decrease in assets (debit or
credit)?

Ledger correct answers What you call a recorded group of accounts for a
business entity

Asset correct answers What type of account are prepaid expenses/insurance
placed with?

Liability correct answers What type of account is unearned revenue placed
with?

Credit correct answers What type of transaction (credit or debit) shows an
increase in stockholders equity?

Debit correct answers What type of transaction (credit or debit) shows an
increase in an Expense account?

Debit correct answers What is the normal balance for an asset account?

Credit correct answers What is the normal balance for a liability account?

Credit correct answers What is the normal balance for a stockholders equity
account?

Credit correct answers What is the normal balance for a retained earnings
account?

Debit correct answers What is the normal balance for a dividend account?

Debit correct answers What is the normal balance for an expense account?

Credit correct answers What is the normal balance for a revenue account?

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