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Business
Accounting
Hint: Normal Balance means does a debit or credit INCREASE the account. Account Type Account Name FUTA Tax Payable Paid in capital in excess of stated, Preferred Paid in capital, Treasury Stock Dividends Common Stock, $25 par Premium on Bonds Payable Paid in capital in excess of par, Common Discount on Bonds Payable Liability Credit Normal Balance

Hint: Normal Balance means does a debit or credit INCREASE the account. Account Type Account Name FUTA Tax Payable Paid in capital in excess of stated, Preferred Paid in capital, Treasury Stock Dividends Common Stock, $25 par Premium on Bonds Payable Paid in capital in excess of par, Common Discount on Bonds Payable Liability Credit Normal Balance

FINANCIAL ACCOUNTING
FINANCIAL ACCOUNTING
10th Edition
ISBN:9781259964947
Author:Libby
Publisher:Libby
Chapter1: Financial Statements And Business Decisions
Section: Chapter Questions
Problem 1Q
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4. What is the account type and normal balance for each of these accounts? Hint: Normal Balance means does a debit or credit INCREASE the account. Account Name Account Type FUTA Tax Payable Paid in capital in excess of stated, Preferred Paid in capital, Treasury Stock Dividends Common Stock, $25 par Premium on Bonds Payable Paid in capital in excess of par, Common Discount on Bonds Payable Liability Credit Normal Balance ▸
Transcribed Image Text:4. What is the account type and normal balance for each of these accounts? Hint: Normal Balance means does a debit or credit INCREASE the account. Account Name Account Type FUTA Tax Payable Paid in capital in excess of stated, Preferred Paid in capital, Treasury Stock Dividends Common Stock, $25 par Premium on Bonds Payable Paid in capital in excess of par, Common Discount on Bonds Payable Liability Credit Normal Balance ▸
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