Quiz Ch 02 – Debit/Credit Identification and Financial Statement Classification

Financial Accounting

Thomas, Tietz, and Harrison

12th Edition

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Determine whether the account should be increased by debiting or crediting it. Additionally, identify whether the account belongs to the Balance Sheet (BS), Income Statement (IS), or Statement of Retained Earnings (SRE).

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  • Search Terms: (bs), (is), (sre). account: increased a a: financial account also appear balance credit. debit earnings earnings dividends common goods if income increased indicate is of on or payable retained rent interest retained sheet sold statement statement: prepaid stock cost the whether with would
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