Flash Cards Debits/Credits Drill & Practice for Principles of Financial Accounting © Susan M. Moncada, Ph.D., CPA, Indiana State University
How to Use the Flashcards 1.Launch the PowerPoint presentation. 2.Click on a Cards hyperlink label. 3.Click on the Debit or Credit Button 4.Click the Return button on the Feedback Screens 5.Caution: Clicking on areas of the screen other than areas specified will cause the drill and practice activity to malfunction. 6.Note: To repeat the activity, the file will need to be closed and re-opened. 7.Feedback based on EARLS acronym. 2
CARD 1 CARD 2 CARD 3 CARD 4CARD 5 CARD 6CARD 7CARD 8CARD 9 CARD 10 CARD 11CARD 12CARD 13CARD 14CARD 15 CARD 16 CARD 17 CARD 18CARD 19CARD 20 CARD 21CARD 22CARD 23CARD 24CARD 25 Select a Flash Card
CARD 1 To increase Equipment... Debit Credit 4
CARD 6 To decrease Accounts Payable. Debit Credit 5
CARD 11 To increase Commissions Revenue. Debit Credit 6
CARD 16 To increase Common Stock… Credit Debit 7
CARD 21 To increase Dividends …. Debit Credit 8
CARD 2 To increase Notes Payable… Debit Credit 9
CARD 7 To decrease Retained Earnings… Debit Credit 10
CARD 12 To increase Prepaid Insurance Expense… Debit Credit 11
CARD 17 To increase Accumulated Depreciation Debit Credit 12
CARD 22 To decrease Accounts Receivable… Debit Credit 13
CARD 3 To decrease Unearned Consulting Revenue Debit Credit 14
CARD 8 To decrease Supplies Inventory… Debit Credit 15
CARD 13 To increase Utilities Expense… Debit Credit 16
CARD 18 To increase Patents… Debit Credit 17
CARD 23 To decrease Cash … Debit Credit 18
CARD 4 To increase Short Term Investments Debit Credit 19
CARD 9 To increase LAND… Debit Credit 20
CARD 14 To increase Retained Earnings … Debit Credit 21
CARD 19 To decrease Accumulated Depreciation Debit Credit 22
CARD 24 To increase Merchandise Inventory Debit Credit 23
CARD 5 To decrease Marketable Securities … Debit Credit 24
CARD 10 To decrease Prepaid Rent Expense Debit Credit 25
CARD 15 To increase Sales … Debit Credit 26
CARD 20 To decrease Wages Payable … Debit Credit 27
CARD 25 To decrease Delivery Vehicles... Debit Credit 28
Positive Feedback 29
NegFeed1 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 1 FEEDBACK: 30
NegFeed6 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 6 FEEDBACK: 31
NegFeed11 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 11 FEEDBACK: 32
NegFeed16 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 16 FEEDBACK: 33
NegFed21 Remember Dividends is a Contra Equity Account The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 21 FEEDBACK: 34
NegFeed2 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 2 FEEDBACK: 35
NegFed7 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 7 FEEDBACK: 36
NegFeed12 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 12 FEEDBACK: 37
NegFeed17 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 17 FEEDBACK: 38 Remember Accumulated Depreciation is a contra account.
NegFeed22 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 22 FEEDBACK: 39
NegFeed3 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 3 FEEDBACK: 40
NegFeed8 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 8 FEEDBACK: 41
NegFeed13 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 13 FEEDBACK: 42
NegFeed18 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 18 FEEDBACK: 43
NegFeed23 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 23 FEEDBACK: 44
NegFeed4 CARD 4 FEEDBACK: 45 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit
NegFeed9 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 9 FEEDBACK: 46
NegFeed14 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 14 FEEDBACK: 47
NegFeed19 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 19 FEEDBACK: 48 Remember Accumulated Depreciation is a contra account.
NegFeed24 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 24 FEEDBACK: 49
NegFeed5 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 5 FEEDBACK: 50
NegFeed10 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 10 FEEDBACK: 51
NegFeed15 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit CARD 15 FEEDBACK: 52
NegFeed20 CARD 20 FEEDBACK: 53 R L S Revenues Liabilities Stockholder Equity The normal balance for Revenues, Liabilities and Stockholders Equity is a Credit
NegFeed25 E A Expenses Assets The normal Balance for Assets and Expenses is a Debit CARD 25 FEEDBACK: 54