Transaction Analysis - Monopoly

Front

When you get your $1,500.00 Initial investment what is the transaction? Options: Debit Cash; Credit Revenue, Debit Revenue; Credit Cash, Debit Cash; Credit Owner's Capital, Debit Owner's Capital; Credit Cash

Back

Debit Cash; Credit Owner's Capital

Front

In monopoly, when you purchase property what is the transaction?

Back

Debit Real Estate; Credit Cash

Front

In monopoly, when you purchase houses what is the transaction?

Back

Debit Building; Credit Cash

Front

In monopoly, when you sell houses what is the transaction?

Back

Debit Cash; Credit Building

Front

In monopoly, when you mortgage property what is the transaction? Options: Debit Cash; Credit Mortgage, Debit Mortgage; Credit Cash, Debit Cash; Credit Owner's Capital, Debit Owner's Capital; Credit Cash

Back

Debit Cash; Credit Mortgage

Front

In monopoly, when you land on others property and pay them rent, what is the transaction?

Back

Debit Rent Expense; Credit Cash

Front

What is the normal balance of Revenue and Owner's Capital? Respond debit or credit only!

Back

credit, Credit, CREDIT

Answer explanation

The normal balance is the side where they increase in value. These are both right side (credit) accounts.

Front

What is the normal balance of Real Estate and Building? Respond debit or credit only!

Back

debit, Debit, DEBIT

Answer explanation

The normal balance is the side where they increase in value. These are both left side (debit) accounts.

Front

In the acronym DC ADE LER, what does the E in "ADE" stand for?

Back

Expenses

Front

In the acronym DC ADE LER, what does the E in "LER" stand for?

Back

Equity