Accounting Review Chapter 4

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Choose Your Topic

• Debits• Credits

Debits are on what side of the T-Account?

• Left• Right

What side to Debits increase on?

• Right or credit side• Left or debit side

Which statement is true about Debit/Asset accounts?

• All asset accounts have a debit increase side

• You can only have 3 asset accounts• Not all asset accounts have a debit incre

ase side• You always add to asset accounts

What do debits increase?

• Common Stock• Assets• Liabilities• Owner’s Equity

Which account is not a debit increase account?

• Accounts Payable• Accounts Receivable• Land• Expenses

If you bought supplies on account what would the transaction look

like?• Decrease to supplies, increase to accoun

ts payable• Increase to supplies, increase to

accounts payable• Decrease to supplies, decrease to accou

nts payable• Increase to supplies, decrease to accoun

ts payable

What is the Credit side of the T-Account?

• Left • Right

What side do credits increase on?

• Right or credit side• Left or debit side

What do credits decrease?

• Assets• Retained Earnings• Liabilities• Common Stock

Which account is not a credit decrease account?

• Supplies• Accounts Receivable • Retained Earnings• Land

If you bought Common Stock for cash what would the transaction

be?• Decrease to common stock, decrease to

cash• Increase to common stock, decrease to c

ash• Increase to common stock, increase to c

ash• Decrease to common stock, increase to

cash

Section Complete

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• Finished both lessons and go to end

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Great Job!!! Keep up the good work!!!

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YAY!!!

• You are correct again!!!!

Next Question

Try Again

• Go back and try it again, you can do it!!!

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WHOOO HOOOO

• Great Job!!! Keep up the good work!!

Go to Next Question

AWW Man

• Keep at it, I know you can do it

Go back to Question

Awesome

• You’re right again….keep on going

Go to Next Question

I know you will get it next time. Keep your head up!!

Back to question

• Go back and try it again, I know you’ll get it right

Go back to question

Great Job!!! Keep up the good work!!!

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YAY!!!

• You are correct again!!!!

Next Question

Finished

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if not click here• If you have any more questions make

sure you ask before the test