Accounting and Bookkeeping

Rent expenses

Accumulated depreciation

Unearned revenue

Supply expenses

Unearned revenue

Dividends

Accumulated depreciation

Income tax expense

Increases in asset, liability, and owners’ equity accounts are recorded by debits

Decreases in asset and liability accounts are recorded by credits

Increases in asset and owners’ equity accounts are recorded by debits

Decreases in liability and owners’ equity accounts are recorded by debits

A debit to the cash received account of $2,100

A credit to the accounts receivable account of $2,100

A debit to the cash account of $1,400

A debit to the accounts receivable account of $1,400

A target lawsuit was filed against the company two days after the balance sheet date

The depreciation method in use, given that several different methods are acceptable under generally accepted accounting principles

Whether small but long-lived items, such as electric pencil sharpeners and handheld calculators, are charged to asset or expense accounts

As of year-end, the chief executive officer had been hospitalized due to chest pains

Debit income summary, credit retained earnings

Credit income summary, debit retained earnings

Debit income summary, credit capital stock

Credit income summary, debit capital stock

Is equal to revenue minus the sum of expenses and dividends

Is equal to revenue minus the sum of expenses and dividends

Increases owners’ equity

Is reported by a company for a specific period of time