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For Each of the Following Accounts, Indicate Whether a Debit

Question 177

Essay

For each of the following accounts, indicate whether a debit or credit is used to increase (+) or decrease (-) the balance of the account.  Account  Debit  Credit  (a) Common Stock  (b) Liability  (c) Asset  (d) Revenue  (e) Dividend  (f) Retained Earnings  (g) Expense \begin{array} { | l l l | } \hline \text { Account } & \text { Debit } & \text { Credit } \\\text { (a) Common Stock } & \\\text { (b) Liability } & \\\text { (c) Asset } & \\\text { (d) Revenue } & \\\text { (e) Dividend } & \\\text { (f) Retained Earnings } \\\text { (g) Expense } & \\\hline\end{array}

Correct Answer:

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(a) -,+; (b) -,+; (c...

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