Which account would be increased with a debit?
A)Supplies
B)Accounts Payable
C)Common Stock
D)Retained Earnings

Question

Quizplus · Accepted Answer

Use debits for increases in assets (and for decreases in liabilities and stockholders' equity accounts).Use credits for increases in liabilities and stockholders' equity accounts (and for decreases in assets).Supplies is an asset and,as such,would be increased with a debit.Retained Earnings and Common Stock are stockholders' equity accounts and Accounts Payable is a liability account.Liabilities and stockholders' equity accounts are decreased with debits.

Which Account Would Be Increased with a Debit