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In: Accounting

Which of the following accounts is increased by a debit? Accumulated Depreciation Federal Income Tax Withheld...

Which of the following accounts is increased by a debit?

Accumulated Depreciation

Federal Income Tax Withheld

Prepaid Insurance

Unearned Revenue

Solutions

Expert Solution

Option , Prepaid Insurance

Reason : Assets increase by a debit entry and prepaid insurance is an asset account. If the insurance that is paid in advance increases, so does prepaid insurance. The rest options are all liabilities which increase with a credit.

ekkarill92 answered 1 year ago
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