What entry (debit or credit) would you make to (a) increase revenue, (b) decrease in expense, (c) record drawings, (d) record the fresh capital introduced by the owner.

Open in App

Solution

The following entry will be made in the above case
(a) Increase revenue Credit entry will be made in this case.
(b) decrease in expense Debit entry will be made in this case.
(c) Records drawings Debit entry will be made in this case.
(d) Fresh capital introduced by the owner Credit entry will be made in this case.

Suggest Corrections

Similar questions

What entry (debit or credit) would you make to: (a) increase revenue (b) decrease in expense, (c) record drawings (d) record the fresh capital introduced by the owner.

The appropriate journal entry to record equipment depreciation expense would consist of a debit to Depreciation Expense and a credit to which of the following accounts?

Q. For passing an adjustment entry for recording prepaid expenses account is debited and account is credited

To record a repair or maintenance expense of a machine in your records, the ___ account is ___ by the amount of the expense in a journal entry.

What adjusting entries would you record for the following?

(a) Depreciation

(b) Discount on debtors

(d) Manager’s commission

Join BYJU'S Learning Program