The right side of a T-account is known as the

3. The right side of a T-account is known as the



Equity side.



Claims side.



Debit side.



Credit side

4.

Domino Co. purchased land and paid the full purchase price in cash. The journal entry necessary to record this event includes a:



debit to Land and a credit to Cash.



debit to Cash and a credit to Land.



credit to Land and a credit to Cash.



debit to Land and a debit to Cash.

5.

Credit entries



increase the common stock account.



increase asset accounts.



decrease liability accounts.



all of these.

6.

Which of the following is increased with a debit?



Consulting Revenue



Supplies Expense



Accounts Payable



Common Stock



7.

Which of the following is increased with a credit?



Salaries Expense



Prepaid Rent



Dividends



Salaries Payable



8.

Which of the following is decreased with a debit?



Accounts Payable



Accounts Receivable



Prepaid Rent



Rent Expense



9.

Which of the following is decreased with a credit?



Unearned Service Revenue



Consulting Revenue



Accounts Payable



Prepaid Rent



10.

Which account is increased by a credit to the account?



Accounts Receivable



Prepaid Rent



Service Revenue



Supplies


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