TDS And Accounting

capital or owners equity decreases on the _________ side?

• credit

• debit

• payments

• liability

How would an accountant record an increase in cash?

• Debit
• Credit

Purchases are expenses. So purchases are always ___________

• debited

• credited

The basic accounting equation is Assets=Liabilities + _______________________.

• Income
• Owner's Equity
• Expenses
• Profit

Total of the debit entries into Bank account amounted to 2.000 and total of the credit entry into Bank account amounted to 1.500. What is the balance of Bank account?

• 500 debit balance

• 500 credit balance

• 400 debit balance

Apply the rules of Debit and Credit to the following accounts:

A decrease to cash is an _______?

• Debit

• Credit

• Asset

• Expense

An increase to Utilities Expense is a

• Debit

• Credit

• Asset

• Liability

An increase to a revenue account is a

• Debit

• Credit

• Equity

• Asset

A decrease to Accounts Payable is a

• Debit

• Credit

• Asset

• Liability

An increase in owner's equity resulting from the operation of a business

• asset
• expense
• withdrawl
• revenue