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SingaporeAccountingQuick questions
The Double Entry Recording System
Quick questions on Debit and credit rules explained: O-Level Principles of Accounts
4short Q&A pairs drawn directly from our worked dot-point answer. For full context and worked exam questions, read the parent dot-point page.
What are normal balances?Show answer
The normal balance is the side on which an account usually has its balance, which is its increase side. Assets, expenses and drawings normally have debit balances; liabilities, income and capital normally have credit balances. This is why, when a trial balance is drawn up, the debit and credit columns should agree.
What is q1?Show answer
State which side increases each: an asset, a liability, an expense. [3 marks]
What is q2?Show answer
Give the debit and credit for buying inventory of \1\,500$ on credit from Tan. [2 marks]
What is q3?Show answer
State the normal balance of capital and of rent expense, and explain why they differ. [3 marks]
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