Accounting - Chapter 2 Review

An accounting device used to analyze transactions

• chart of accounts

• T account

• calculator

• equity

An amount recorded on the left side of a T account

An amount recorded on the right side of a T account

The side of the account that is increased

A list of accounts used by a business

• T account

• business log

• chart of accounts

• accounting book

For the transaction "Received cash from owner as investment", would cash be debit or credit?

• debit

• credit

For the transaction "Paid cash for supplies", would supplies be debit or credit?

• debit

• credit

For the transaction "Paid cash for supplies", would cash be debit or credit?

• debit

• credit

For the transaction "Paid cash on account to Suburban Office Supplies", would Accounts Payable--Suburban Office Supplies be debit or credit?

• debit

• credit

For the transaction "Paid cash on account to Suburban Office Supplies", would cash be debit or credit?

• debit

• credit