Ask Question
BusinessBusiness
28 May, 03:36

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

+5
Answers (2)
  1. 28 May, 05:42
    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
  2. 28 May, 06:03
    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
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 you're in doubt about the correctness of the answers or there's no answer, then try to use the smart search and find answers to the similar questions.
Search for Other Answers
You Might be Interested in
Sally has a decision to make about what she will do in the next 2 years. she can go to school or go straight into the workforce. if sally immediately starts working, she will earn $20,000 in both years 1 and 2.
Answers (1)
A explain why earning zero economic profit is not as bad as it sounds.
Answers (1)
The XYZ Company expects stock prices to increase. The current stock price is $37. The company purchases a call option, with an exercise price of $40 and a premium of $2 per share. Just before the expiration, stock price rises to $44.
Answers (1)
Brian is 60 years old, single, and legally blind. Brian supports his father, who is 88 years old and blind, by paying the rent and other costs of his father's residence.
Answers (1)
Credit-card costs in business are ultimately passed on to the customer. True or false
Answers (1)
New Questions in Business
Which one of the following statements is correct? Multiple Choice a. All of the major stock exchanges are U. S. based. b. The NYSE was created by the National Association of Securities Dealers in the early 1930s. c.
Answers (1)
Which of the following is an example of capital outflow for Germany? a. German company Haribo sells a production facility in Ireland to an Irish competitor b. Volkswagen exports the new 2014 VW Beatle to the United Kingdom c.
Answers (1)
Financial institutions are more diversified today than they were in the past, when federal laws kept investment banks, commercial banks, insurance companies, and similar organizations quite separate.
Answers (1)
Corny and Sweet grows and sells sweet corn at its roadside produce stand. The selling price per dozen is $4.00, variable costs are $2.00 per dozen, and total fixed costs are $1,200.00. What are breakeven sales in dollars?
Answers (1)
Looking at motivation from a content theory approach, the psychological contract suggests that, in return for time, effort, and other considerations, individuals want to receive:
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?