Analyze
Transactions
Debit
Credit
T Account
100
Items on the left side of the accounting equation.
What are assets?
100
Items on the right side of an accounting equation.
What are liabilities and owner's equity?
100
Debit means...
What is left?
100
Credit means...
What is right?
100
The side where the account increases.
What is the normal balance?
200
Device used to analyze transactions.
What is a T account?
200
Left side of the account.
What is debit?
200
Right side of the account.
What is credit?
200
A list of accounts used by a business.
What is a chart of accounts?
200
Number of steps used to analyze a transaction.
What is four?
300
Received cash from owner as an investment.
What is increase cash and increase capital?
300
Paid cash for supplies.
What is increase supplies and decrease cash?
300
Bought supplies on account.
What is increase supplies and increase liability?
300
Another term for liability.
What is a payable?
300
Paid cash for insurance.
What is increase prepaid insurance and decreases cash?
400
Paid cash on account?
What is decrease cash and decrease liability?
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