ACC 221

Accounting Equation Answer Assets = Liabilities + Equity Asset Accounts Answer Debits-Increase, Credits-Decrease Liability Accounts Answer Debits-Decrease, Credits-Increase Equity Accounts Answer Debits-Decrease, Credits-Increase Trial balance Answer Used by accountants to prove that the accounting system is in balance, that total debits=total credits Balance Sheet Amounts Answer Total Assets, Total Liabilities, Total Equity, Total Liabilities and Equity General Ledger Answer C...

A service charge from the bank affects which side of the bank reconciliation? Answer Company A NSF Check from the bank affects which side of the bank reconciliation? Answer Company The company records a deposit for the sale of services for $63 as $36. $63 was correctly deposited in the bank, but the company recorded $36. What is the entry to the General Journal? Answer Debit - Cash $27 Credit - Sales Revenue The company records a deposit for the sale of services for $18 as $81. $18 was...