COB 241 at James Madison University

1. Account Classification

in Topic 3 (Problem 1 of 9)

What type of account is increased with a debit but is a decrease to retained earnings?

  1. Liability
  2. Asset
  3. Revenue
  4. Expense
Watch Solution (1:28) Hide Solution Reveal Solution

The Rest Of The Practice Problems

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1 Account Classification
You are here. 		Easy
2 Journal Entry - Inventory Easy
3 Journal Entry - Sales Easy
4 Land Purchased With Cash Easy
5 T/F: Liabilities and Equity Easy
6 T/F: T-Account Logic Easy
7 Normal Balances Moderate
8 The Effect of Journal Entries Moderate
9 What Should Be Journaled Moderate
← Topic 2

Topic 3 Videos

1 T-Accounts 3:15
2 Debits and Credits 6:49
3 Determining Normal Balances For Assets & Liabilities 10:04
4 Determining Normal Balance for Shareholder's Equity 11:53
5 Normal Balance Shortcut: Double Entry 11:51
6 Normal Balance Shortcut: DEAD Mnemonic 2:36
7 The Journal, Ledger, Trial Balance 14:00
Topic 4 →