1. Finance Foundations Unit 5 Flash Cards Mrs. Sorrell

2. Decrease O A debit to a revenue will __________ the revenue account.

3. Asset O Prepaid insurance is classified as a(n) __________.

4. Debit O To increase an asset you have to __________.

5. Debit O A __________ will decrease Accounts Payable.

6. increase O A debit to Utilities Expense will __________ the expense account.

7. Debit O The normal balance of the drawing account is __________.

8. increase O The normal balance is the __________ side of the account.

9. Credit O An accounts receivable is decreased with a __________.

10. Increase O An investment by the owner will __________ Capital.

11. credit O To increase Accounts Payable you must __________ the Accounts Payable account.

12. debit O The normal balance for Accounts Receivable is __________.

13. debit O A __________ will increase the Drawing account.

14. debit O An expense has a normal balance of __________.

15. liability O Anything owed by a company is considered to be a(n) __________.

16. increase O If the owner withdraws money for personal use, the withdrawal will __________ the Drawing account.

17. credit O A(n) __________ will cause Capital to be increased.

18. decrease O Credits to Cash will __________ the Cash account.

19. capital O An investment by the owner will increase __________.

20. increase O A debit to rent expense will __________ the rent expense account.

21. decrease O When a customer pays on their account, this will __________ their balance owed.

22. asset O Anything of value that is owned is considered to be a(n) __________.

23. increase, capital O Owner investing money into the company will __________ the __________ account.

24. decrease, increase O Cash paid to cover advertising expense will __________ the cash account and __________ the advertising expense account.

25. decrease, decrease O Cash paid on Accounts Payable will __________ cash and __________ accounts payable.

26. asset O Accounts Receivable is a(n) __________.

27. liability O Accounts Payable is a(n) __________.

28. debit O The normal balance for an asset account is __________.

29. debit O The normal balance for drawing account is __________.

30. increase O When an owner withdraws money for personal use, the drawing account will __________.