Browsing Tag »prepaid insurance«

Accounting Question – which accounts are debits or credits? Can you add them up to find the trial balance?

May 22, 2010

ledger account at 30 June Accounts Receivable ,400; Accumulated Depreciation Motor Vehicles 0; Prepaid Insurance 0; Service Fee Revenue 0; Unearned Service Fees 0; Wages Payable 0; Wages Expense 0; Bills Receivable 0; Accounts Payable ,150; Capital ,800; Cash at Bank ,250; Drawings ,100; Motor Vehicle ,430; Miscellaneous Expense 0. The trial balance total at 30 June [...]

I am really confused now. a debit or credit yields the indicated change for each of the following accounts:?

April 4, 2010

Do I have any of these right? I am so confused as to terms to increase, to decrease. Help Please a. To increase Store Equipment debit b. To increase Owner Withdrawals debit c. To decrease Cash credit d. To increase Utilities Expense credit e. To increase Fees Earned debit f. To decrease Unearned Revenue [...]

How to answer accouting balance sheet exercise?

February 12, 2010

Three years ago, T. Roderick organized Harbor Realty. At December 31, 2005,at the end of the current fiscal year, the following financial information were provided: Cash [...]

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