Free Printable ICEV Left or right Debit or Credit

1.

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

a)

Debit

b)

Credit

2.

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

a)

Debit

b)

Credit

3.

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

a)

Debit

b)

Credit

4.

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

a)

Debit

b)

Credit

5.

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

a)

Debit

b)

Credit

6.

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

a)

Debit

b)

Credit

7.

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

a)

Debit

b)

Credit

8.

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

a)

Debit

b)

Credit

9.

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

a)

Debit

b)

Credit

10.

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

a)

Debit

b)

Credit

11.

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

Intangibles

a)

Debit

b)

Credit

12.

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

Unearned Service Revenue

a)

Debit

b)

Credit

13.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Unearned Service Revenue

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

14.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Intangibles

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

15.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Retained Earnings

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

16.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Accounts Receivable

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

17.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Taxes Payable

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

18.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

Notes Payable

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

19.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

cash

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

20.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

common stock

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

21.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

inventory

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

22.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

capital

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

23.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

supplies

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

24.

Based on the information you have already learned from the Basic Accounting Segment part of the unit presentation, determine whether the account is an asset, liability, or stockholders’ equity account REMEMBER

ASSETS = LIABILITIES + STOCKHOLDERS’ or Owners' EQUITY

land

a)

Asset

b)

Liability

c)

Stockholders' or Owner's Equity

25.

visual display of a transaction’s effect on an account; debits are on the left side and credits are on the right side

a)

Accounting Equation

b)

General Ledger

c)

T-Accounts

ICEV Left or right Debit or Credit

Total questions: 25

Worksheet time: 13mins

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