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Accounting Review Chapter 4

Accounting Review Chapter 4. Click only on UNDERLINED words Click to begin. 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.

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Accounting Review Chapter 4

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  1. Accounting Review Chapter 4 Click only on UNDERLINED words Click to begin

  2. Choose Your Topic • Debits • Credits

  3. Debits are on what side of the T-Account? • Left • Right

  4. What side to Debits increase on? • Right or credit side • Left or debit side

  5. 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 increase side • You always add to asset accounts

  6. What do debits increase? • Common Stock • Assets • Liabilities • Owner’s Equity

  7. Which account is not a debit increase account? • Accounts Payable • Accounts Receivable • Land • Expenses

  8. If you bought supplies on account what would the transaction look like? • Decrease to supplies, increase to accounts payable • Increase to supplies, increase to accounts payable • Decrease to supplies, decrease to accounts payable • Increase to supplies, decrease to accounts payable

  9. What is the Credit side of the T-Account? • Left • Right

  10. What side do credits increase on? • Right or credit side • Left or debit side

  11. What do credits decrease? • Assets • Retained Earnings • Liabilities • Common Stock

  12. Which account is not a credit decrease account? • Supplies • Accounts Receivable • Retained Earnings • Land

  13. 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 cash • Increase to common stock, increase to cash • Decrease to common stock, increase to cash

  14. Section Complete • Go back and try the next lesson • Finished both lessons and go to end

  15. Try Again I know you will get it next time. Keep your head up!! Back to question

  16. OOOPS!!!!!! • Go back and try it again, I know you’ll get it right Go back to question

  17. Correct!!! Great Job!!! Keep up the good work!!! Go to next question

  18. YAY!!! • You are correct again!!!! Next Question

  19. Try Again • Go back and try it again, you can do it!!! Go Back to Question

  20. WHOOO HOOOO • Great Job!!! Keep up the good work!! Go to Next Question

  21. AWW Man • Keep at it, I know you can do it Go back to Question

  22. Awesome • You’re right again….keep on going Go to Next Question

  23. Awesome • You’re right again….keep on going Go to Next Question

  24. AWW Man • Keep at it, I know you can do it Go back to Question

  25. Try Again I know you will get it next time. Keep your head up!! Back to question

  26. OOOPS!!!!!! • Go back and try it again, I know you’ll get it right Go back to question

  27. Correct!!! Great Job!!! Keep up the good work!!! Go to next question

  28. YAY!!! • You are correct again!!!! Next Question

  29. Try Again • Go back and try it again, you can do it!!! Go Back to Question

  30. WHOOO HOOOO • Great Job!!! Keep up the good work!! Go to Next Question

  31. AWW Man • Keep at it, I know you can do it Go back to Question

  32. Awesome • You’re right again….keep on going Go to Next Question

  33. Try Again I know you will get it next time. Keep your head up!! Back to question

  34. OOOPS!!!!!! • Go back and try it again, I know you’ll get it right Go back to question

  35. Correct!!! Great Job!!! Keep up the good work!!! Go to next question

  36. YAY!!! • You are correct again!!!! Next Question

  37. Finished • Great Job • Make sure you have finished both topics if not click here • If you have any more questions make sure you ask before the test

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