Which of the following is increased with a credit?
A)Salaries payable
B)Prepaid rent
C)Common stock
D)Both salaries payable and common stock

Question

Quizplus · Accepted Answer

A credit entry increases the liabilities and equity of a company. Salaries payable is a liability account and common stock is an equity account, therefore both of these accounts will increase with a credit entry. Prepaid rent is an asset account and would decrease with a credit entry.

Which of the Following Is Increased with a Credit