Which of the Following Accounts Increases with a Debit

question 176

Multiple Choice

Which of the following accounts increases with a debit?

• A)Cash
• B)Interest Payable
• C)Accounts Payable
• D)Owner,Capital

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Definitions:

Enhanced Payroll

A payroll service offering from software providers that includes advanced features like tax filing and direct deposit beyond basic paycheck calculations.

Form 1065

A tax form used in the United States to report the profits, losses, deductions, and credits of a partnership or multi-member LLC.

Payroll Report

A detailed document containing all payroll transactions within a specific period, showing details such as gross wages, deductions, taxes withheld, and net pay.

Form W-2

An official document issued by employers in the United States to report an employee's annual wages and the amount of taxes withheld from their paycheck.