Asked by Dinero Hughes on Jun 25, 2024
Verified
Which of the following accounts would be increased with a credit?
A) Land; Accounts Payable; Drawing
B) Accounts Payable; Unearned Revenue; Collins, Capital
C) Collins, Capital; Accounts Receivable; Unearned Revenue
D) Cash; Accounts Receivable; Collins, Capital
Unearned Revenue
Money received by an individual or company for a service or product yet to be provided or delivered.
Drawing
Withdrawals of cash or other assets from a business by the owner for personal use, affecting the owner's equity.
- Identify which accounts are increased by debits and which by credits.
Verified Answer
GA
Gissela Aparicio LopezJun 30, 2024
Final Answer :
B
Explanation :
Accounts Payable, Unearned Revenue, and Collins, Capital are all increased with a credit. Accounts Payable and Unearned Revenue are liabilities, and Collins, Capital represents owner's equity, all of which increase on the credit side.
Learning Objectives
- Identify which accounts are increased by debits and which by credits.