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Drill & Practice for Principles of Financial Accounting
Debits/Credits Drill & Practice for Principles of Financial Accounting Flash Cards Susan M. Moncada, Ph.D., CPA, Indiana State University
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How to Use the Flashcards
Launch the PowerPoint presentation. Click on a Card’s hyperlink label. Click on the Debit or Credit Button Click the Return button on the Feedback Screens Caution: Clicking on areas of the screen other than areas specified will cause the drill and practice activity to malfunction. Note: To repeat the activity, the file will need to be closed and re-opened. Feedback based on EARLS acronym.
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Select a Flash Card CARD 1 CARD 2 CARD 3 CARD 4 CARD 5 CARD 6 CARD 7
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CARD 1 To increase Equipment... Debit Credit
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CARD 6 To decrease Accounts Payable. Debit Credit
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CARD 11 To increase Commissions Revenue. Debit Credit
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CARD 16 To increase Maria Sanchez, Capital… Debit Credit
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CARD 21 To increase Computer Equipment …. Debit Credit
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CARD 2 To increase Accounts Payable… Debit Credit
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CARD 7 To decrease Owner’s Equity… Debit Credit
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CARD 12 To increase Cash in Bank… Debit Credit
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CARD 17 To increase Utilities Expense Debit Credit
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CARD 22 To decrease Accounts Receivable… Debit Credit
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CARD 3 To decrease Accounts Payable, Costco Debit Credit
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CARD 8 To pay rent expense … Debit Credit
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CARD 13 To increase Utilities Expense… Debit Credit
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CARD 18 To increase Desk Chairs… Debit Credit
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CARD 23 To decrease Cash … Debit Credit
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CARD 4 To increase farm equipment Debit Credit
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CARD 9 To increase LAND… Debit Credit
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CARD 14 To increase Revenue… Debit Credit
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CARD 19 To increase expenses Debit Credit
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CARD 24 To increase Maria Sanchez, Withdrawals Debit Credit
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CARD 5 To decrease office equipment… Debit Credit
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CARD 10 To increase Rent Expense Debit Credit
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CARD 15 To increase Sales … Debit Credit
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CARD 20 To decrease Wages Payable … Debit Credit
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CARD 25 To decrease Delivery Vehicles ... Debit Credit
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Positive Feedback
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E A CARD 1 FEEDBACK: NegFeed1
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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R L S CARD 6 FEEDBACK: NegFeed6
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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R L S CARD 11 FEEDBACK: NegFeed11
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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R L S CARD 16 FEEDBACK: NegFeed16
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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Remember Dividends is a Contra Equity Account
NegFed21 CARD 21 FEEDBACK: Remember Dividends is a Contra Equity Account The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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R L S CARD 2 FEEDBACK: NegFeed2
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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R L S CARD 7 FEEDBACK: NegFed7
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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E A CARD 12 FEEDBACK: NegFeed12
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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NegFeed17 CARD 17 FEEDBACK: Remember Accumulated Depreciation is a contra account. E A Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 22 FEEDBACK: NegFeed22
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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R L S CARD 3 FEEDBACK: NegFeed3
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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E A CARD 8 FEEDBACK: NegFeed8
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 13 FEEDBACK: NegFeed13
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 18 FEEDBACK: NegFeed18
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 23 FEEDBACK: NegFeed23
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 4 FEEDBACK: NegFeed4
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 9 FEEDBACK: NegFeed9
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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R L S CARD 14 FEEDBACK: NegFeed14
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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NegFeed19 CARD 19 FEEDBACK: Remember Accumulated Depreciation is a contra account. E A Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 24 FEEDBACK: NegFeed24
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 5 FEEDBACK: NegFeed5
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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E A CARD 10 FEEDBACK: NegFeed10
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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R L S CARD 15 FEEDBACK: NegFeed15
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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R L S CARD 20 FEEDBACK: NegFeed20
Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders’ Equity is a Credit
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E A CARD 25 FEEDBACK: NegFeed25
Expenses Assets The normal Balance for Assets and Expenses is a Debit
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