User: An account that would be increased by a credit is A. cash. (1) Verify that the total of the Debit column equals the total of the Credit column. Common Stock A Which of the following accounts is increased with a credit? Since . Which of the following accounts increases with a debit? Increases with Credits. Which of the following situations increase owner’s equity? A debit decreases the balance and a credit increases the balance. Withdrawals C. Expenses D. Accounts payable Weegy: A debit increases the balance in all of the following accounts EXCEPT for: ACCOUNTS PAYABLE. debits. ANS: D All those account types increase with debits or left side entries. A) Prepaid Rent B) Interest Payable C) Accounts Payable D) Common Stock. A. Hence, the correct option is Drawing. Supplies expense b. All other trademarks and copyrights are the property of their respective owners. The rule for asset accounts says they must increase with a debit entry and decrease with a credit entry. Rules of debit and credit (1). All rights reserved. Thus, the store is reducing its accounts receivable asset account (with a credit) when it agrees to credit the account. Earn Transferable Credit & Get your Degree, Get access to this video and our entire Q&A library. Common Stock C. Equipment D. Accounts Payable E. Fees Earned F. Electricity Expense Revenues (Sales, Service Revenues, Fees Earned, Interest Revenues, etc.) Which of the following will increase owner’s equity? The types of accounts in accounting help you sort and track transactions. On the other hand, increases in revenue, liability or equity accounts are credits or right side entries, and decreases are left side entries or debits. Which of the following accounts would be increased with a credit a Land, 5 out of 7 people found this document helpful. A debit increases the balance and a credit decreases the balance. Sciences, Culinary Arts and Personal a. Collins, Capital; Accounts Receivable; Unearned Revenue, b. The normal balance of any account is the entry type, debit or credit, which increases the account when recording transactions in the journal and posting to the company's ledger. D) Salaries Expense. A credit balance in which of the following accounts would indicate a likely error? On the other hand, some may assume that a credit always increases an account. Gains (Gain on Sale of Assets, Gain on Retirement of Bonds, etc.) c. debit Accounts Payable; credit Cash d. debit Accounts Receivable; credit Cash 3. a. C 5 Which of the following shows a chronological record of all transactions? a. Prepaid Insurance and Dividends b. Expense accounts: Normal balance: Debit Rule: An increase is recorded on the debit side and a decrease is recorded on the credit side of all expense accounts. tide problem precalculus, Grade 10 Printable Sample Problems Package . Favorite Answer. Dividends Payable and Rent Expense b. Whether a debit or a credit increases or decreases an account balance depends on the type of account. Foundations of Mathematics and Pre-Calculus 10: Chapter 2 • Geometry: Plant Tip Growth p. 2 • Geometry: Rivets p. 5 Chapter 3 A. Stockholders' equity increases. O A. A) assets and expenses Asset and Expense accounts are increased with debits and decreased with credits. Cash; Accounts Receivable; Common Stock. The following chart serves as a graphical reference for increasing and decreasing account balances: If you have difficulty answering the following questions, learn more about this topic by reading our ... One asset Cash increases while another asset Accounts Receivable ... Q's accounting equation in May when Client Q records the transaction as a debit to Consultant Expense for $5,000 and a credit to Accounts Payable for $5,000? As two entries are made for each transaction, each account is split into two parts. 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