ICEV Left or right Debit or Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Supplies

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Capital

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Inventory

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Common Stock

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Cash

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Notes Payable

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Accounts Receivable

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Retained Earnings

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Land

• Debit

• Credit

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether each account should be in the Debit category or the Credit category. REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ EQUITY

Taxes Payable

• Debit

• Credit