Accounting Chapter 2_Review

An accounting device used to analyze transactions.

• T account

• normal balance

• chart of accounts

• debit

An amount recorded on the left side of a T account.

• credit

• debit

• normal balance

• T account

An amount recorded on the right side of a T account.

• credit

• debit

• normal balance

• T account

The side of the account that is increased.

• debit

• credit

• T account

• normal balance

A list of accounts used by a business.

• debit

• credit

• chart of accounts

• T account

Analyze the transaction into debit and credit parts. Print the letter identifying your choice in chronological order (debit and then credit, e.g. A,F)

Received cash from owner as an investment.

Analyze the transaction into debit and credit parts. Print the letter identifying your choice in chronological order (debit and then credit, e.g. A,F)

Paid cash for supplies.

Analyze the transaction into debit and credit parts. Print the letter identifying your choice in chronological order (debit and then credit, e.g. A,F)

Paid cash for insurance.

Analyze the transaction into debit and credit parts. Print the letter identifying your choice in chronological order (debit and then credit, e.g. A,F)

Bought supplies on account from Suburban Office Supplies.

Analyze the transaction into debit and credit parts. Print the letter identifying your choice in chronological order (debit and then credit, e.g. A,F)

Paid cash on account to Suburban Office Supplies.