case study Flashcards
1
Q
What are the things that go up that are a credit?
A
liability, equity, income
2
Q
what are the things that go up that are a debit?
A
assets, expenses
3
Q
paid=
recieved=
A
cash–> credit
Debit
4
Q
if cash goes down, its considered which account
A
credit
5
Q
Liabilities can include
A
common shares, dividends, retained earnings
6
Q
on account
A
didn’t pay cash, receivable or payable
