Ask Question
BusinessBusiness
20 May, 20:15

For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable f. Decrease to Prepaid Rent g. Increase to Proudfoot, Capital h. Increase to Notes Receivable i. Decrease to Accounts Payable j. Increase to Interest Revenue

+2
Answers (2)
  1. 20 May, 20:26
    0
    Answer: Explanation:

    a. Increase to Accounts Receivable: Debit

    Assets account increase from debit

    b. Decrease to Unearned Revenue: Debit

    Liabilities account decrase from debit

    c. Decrease to Cash: Credit

    Assets account decrease from Credit

    d. Increase to Interest Expense: Debit

    Expenses are debited

    e. Increase to Salaries Payable: Credit

    Liabilities accounts increase from credit

    f. Decrease to Prepaid Rent: Credit

    Assets account decrease from Credit

    g. Increase to Proudfoot, Capital: Credit

    Equity account: Increase from Credit

    h. Increase to Notes Receivable Debit

    Assets account increase from debit

    i. Decrease to Accounts Payable: Debit

    Liabilities account decrase from debit

    j. Increase to Interest Revenue: Debit

    Expenses are debited
  2. 20 May, 20:44
    0
    (a) DR, (b) DR, (c) CR, (d) DR, (e) CR, (f) CR, (g) CR, (h) DR, (i) DR, (j) CR

    Explanation:

    (a) DR-This is an increase in current asset.

    (b) DR-This is a decrease in deferred income i. e currently a liability.

    (c) CR - This is an outflow of cash

    (d) DR-

    (e) CR-This represents increase in current liabilities.

    (f) CR-Prepaid rent is a current asset item. This represents decrease in current assets.

    (g) CR-

    (h) DR-Notes Receivable is a current asset item. Increase represents increase in current asset.

    (i) DR-Account payable is a current liability item. This represents decrease in current liability.

    (j) CR-Interest revenue is an income item. This represents increase increase in income
Know the Answer?
Not Sure About the Answer?
Find an answer to your question 👍 “For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. ...” in 📗 Business if the answers seem to be not correct or there’s no answer. Try a smart search to find answers to similar questions.
Search for Other Answers
You Might be Interested in
If it could increase its growth rates slightly, a country with low income would catch up with rich countries in about ten years.
Answers (1)
Your firm has just entered the polish market for bottled water. the major distributor is owned by a competitive producer of bottled water. what strategies can you use to gain access to this market?
Answers (1)
An asset is purchased on January 1 for $47,700. It is expected to have a useful life of five years after which it will have an expected residual value of $6,600. The company uses the straight-line method.
Answers (1)
Hyperlink is a feature that - a - calculates data in a cell B - connects test in the doc to an outside source C - saves a worksheet to onedrive D - tracks the amount of data in the doc
Answers (1)
Which of the following refers to analyzing what customers think of your brand? Brand audit Brand equity Brand positioning
Answers (1)
New Questions in Business
The formula for cost of goods manufactured is?
Answers (1)
Athleisure, Inc. sells athletic gear by sending customers a catalog nine times a year. The company has no retail stores or website, but offers a toll-free order number that operates 24 hours a day, 365 days a year. Athleisure, Inc.
Answers (1)
Marcia, owner of drapes by design, has groups of employees in production and installation. if she decides to use work teams as part of her leadership approach, she may be able to:
Answers (1)
Yogen Früz is a successful chain of frozen yogurt shops originating in Canada. Archeology Investments has an agreement with the Canadian firm that grants rights to its company to open and operate Yogen Früz shops in Dubai, Oman, Qatar, Bahrain, and
Answers (1)
What is the difference between marginal cost and marginal revenue? Marginal cost is the money earned from selling one more unit of a good.
Answers (1)
Home » Business » For each account, identify whether the changes would be recorded as a debit (DR) or credit (CR). a. Increase to Accounts Receivable b. Decrease to Unearned Revenue c. Decrease to Cash d. Increase to Interest Expense e. Increase to Salaries Payable f.
Sign Up Forgot Password?