State Whether the Account Should Be Debited or Credited and the Normal

question 124

Short Answer

State whether the account should be debited or credited and the normal balance of the account for the items listed below: $\begin{array}{|l|l|l|}\hline \text { Account } & \begin{array}{c}\text { Recorded as a } \\\text { debit or credit }\end{array} & \begin{array}{c}\text { Normal balance } \\\text { of the account }\end{array} \\\hline \text { a) Increase in Accounts payable } & & \\\hline \text { b) Increase in Salary expense } & & \\\hline \text { c) Increase in Withdrawals } & & \\\hline \text { d) Decrease in Capital } & & \\\hline \text { e) Decrease in Supplies } & & \\\hline \text { f) Increase in Accounts } & & \\\text { receivable } & & \\\hline \text { g) Decrease in Note payable } & & \\\hline \text { h) Decrease in Note receivable } & & \\\hline \text { 1) Increase in Utilities expense } & & \\\hline \text { j) Decrease in Land } & & \\\hline\end{array}$

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Definitions:

Bonds

Financial instruments representing loans made by investors to borrowers, typically governments or corporations, with an agreed-upon return.

Obligations

Obligations are duties or commitments legally or morally binding an individual or entity to act or refrain from acting in a certain manner.

Gunpowder

A mixture of saltpeter (potassium nitrate), sulfur, and charcoal (carbon) that when ignited, burns rapidly and is used as a propellant in firearms and as an explosive.