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Sagot :
Answer:
Explanation:
A. Credit
b. Debit
c. Debit
d credit
e credit
f. Debit
g. Credit
h. Credit
i. Debit
j. Credit
k. Debit
l. Debit
- Land: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Service revenue: It is an income so credit will increase its balance whereas debit will decrease its balance.
- Interest payable: It is a liability so credit will increase its balance whereas debit will decrease its balance.
- Accounts receivable: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Salaries expenses: It is an expense so debit will increase its balance whereas credit will decrease its balance.
- Common stock: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Prepaid insurance: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Building: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Interest revenue: It is an asset so debit will increase its balance whereas credit will decrease its balance.
- Dividends: It is a liability so credit will increase its balance whereas debit will decrease its balance.
- Unearned Revenue: It is a liability so credit will increase its balance whereas debit will decrease its balance.
- Accounts payable: It is a liability so credit will increase its balance whereas debit will decrease its balance.
What is an asset?
A resource having economic worth that a person, business, or nation possesses or controls with the hope that it would someday be beneficial is referred to as an asset. They are acquired or produced in order to raise a company's value or improve the operations of the company. It can be tangible or intangible.
What is a liability?
A liability is a debt that a firm owes that will cause it to forfeit future financial gains from dealing with other people or companies. A liability may be used in place of equity as a means of funding a business. Additionally, some liabilities are necessary for day-to-day corporate operations, such as trade payables or tax payments.
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