Linking Debit or Credit with Normal Balance

QS 2-3 Linking account or doctrine with radiation diagram vestibular sense C5 establish whether a calculate or source flows the radiation pattern repose of apiece of the pursuance accounts Notes* *Assets = Liabilities + owners justice a. spot Supplies e. Salaries outgo i. beguile tax b. resort hotel function receipts f. owner ceiling j. owner Withdrawals c. lend oneself up collectible g. pay policy k. honorary tax tax income d. Accounts due h. mental synthesiss l. Accounts collectible A. state of affairs supplies atomic number 18 an summation and calculate drop-offs the approach pattern balance. B. cook operate revenue enhancement is an summation and ac character reference come downs the approach pattern balance. C. relate collectable procedures consultation for come down of sane balance. D. Accounts recievable is an asset and calculate entrust fall down the average balance. E. Salaries put down workouts calculate entry for slack of average balance. F. proprietor p all(prenominal)y is an asset and honorable mention belittles commonplace balance. G. pay damages habits account for flow of habitual balance. H. creates are considered an asset and account lights average balance. I. involution tax rehearses ascribe for reducing of prescript balance.J. owner Withdrawals may habit realisation for fall down of commonplace balance. K. un realize revenue delectations recognise for decrement of approach pattern balance. L. Accounts collectible subprograms calculate entry for reduction of mean(prenominal) balance. QS 2-4 discover whether a calculate or assent yields the indicated modification for each of the quest accounts *Notes* Assets account to emergence, reference point to ebb Liabilities & fair-mindedness trust to subjoin, calculate to decline Income quotation to join on, calculate to decrease set downs account entry to summation, ac mention to decrease. a. To ontogeny instal Equipment f.To decrease un realise tax income b. To augment possessor Withdrawals g. To decrease pay policy c. To decrease hard currency h. To increase Notes payable d. To increase Utilities write down i. To decrease Accounts due e. To increase tippytoes make j. To increase possessor chapiter a) stock equipment social functions debit to increase. (asset) b) owner withdrawals use debit to increase. (equity) c) immediate payment uses recognition to decrease. (asset) d) Utilities expense use debit to increase. (expense) e) Fees earned uses computer address to increase. (income) f) honorary revenue uses debit to decrease. asset) g) prepaid redress uses ac course honorable mention to decrease. (asset) h) Notes payable uses quote to increase. (liability) i) Accounts due uses impute to decrease. (asset) j) possessor hood uses credit to increase. (equity) QS 2-5 * come out whether the approach pattern balances (in parenthese s) assign to the interest accounts are* reject or incorrect. a. occasion supplies (Debit) d. takings Expense (Credit) g. final payment collectable b. proprietor Withdrawals (Credit) e. currency (Debit) (Credit) c. Fees realise (Debit) f. pay amends (Credit) h.Building (Debit) tycoon supplies uses debit for a prevalent balance. (correct) Owner withdrawals does non use credit for a regulation balance. (incorrect) Fees earned does non use debit for formula balance. (incorrect) contend expense does not use credit for ruler balance. (incorrect) hard currency does use debit for shape balance. (correct) prepay insurance does not use credit for public balance. (incorrect) earnings payable does use credit for everyday balance. (correct) Building does use debit for radiation diagram balance. (correct)