79) Identify whether a debit or credit would be correct for each of the following account changes. Use a Dr. (debit) or Cr. (credit) in the space provided.

________ 1. Increase Delivery Van

________ 2. Decrease Accounts Receivable

________ 3. Decrease Accounts Payable

________ 4. Increase Salaries Expense

________ 5. Increase Service Fees

________ 6. Decrease Cash

________ 7. Increase S. McCrae, Capital

________ 8. Increase S. McCrae, Withdrawals

________ 9. Increase Rent Expense

________ 10. Decrease Equipment

80) Below is a chart of accounts. Following is a series of transactions. Indicate for each transaction the accounts that should be debited and credited by inserting the proper account number in the space provided.

 

111 Cash312 R. Andrews, Withdrawals

112 Accounts Receivable411 Service Fees

121 Office Equipment511 Salaries Expense

211 Accounts Payable512 Rent Expense

311 R. Andrews, Capital513 Advertising Expense

 

   DebitCreditTransaction

________________ 1. Purchased office equipment on account.

________________ 2. Paid salaries for the week.

________________ 3. Invested additional cash in the business.

________________ 4. Received cash for services performed.

________________ 5. Billed a client on account for services performed.

________________ 6. Paid accounts payable.

________________ 7. Collected accounts receivable.

________________ 8. Withdrew cash for personal use.

________________ 9. Paid advertising expense.

________________ 10. Paid rent expense for the month.

 

 



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