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Consider the Rules for Increasing and Decreasing the Various Types

Question 83

Essay

Consider the rules for increasing and decreasing the various types of accounts,as listed below. Type of AccountAssetLiabilityOwner’s equityRevenueExpenseDividends Debit  Credit \begin{array}{c}\begin{array}{lll} \underline{\text {Type of Account}}\\ \text {Asset}\\ \text {Liability}\\ \text {Owner's equity}\\ \text {Revenue}\\ \text {Expense}\\ \text {Dividends}\end{array}\begin{array}{c}\underline{\text { Debit }}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\end{array}\begin{array}{c}\underline{\text { Credit }}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\underline{\quad\quad\quad\quad}\\\end{array}\end{array}

Required:
Indicate increase or decrease following the debit and credit rules for the type of account.

Correct Answer:

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