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Identifying accounts, increases in accounts, and normal balances? Interest Revenue Accounts Payable Common Stock Office Supplies Advertising Expense Unearned Revenue Prepaid Rent Utility Expense Dividends Service Revenue  Requirements Identify each account as an asset (A), liability (L), or equity (E). Identify whether the account is increased with a debit (DR) or credit (CR). Identify whether the normal balance is a debit (DR) or credit (CR).

Identifying accounts, increases in accounts, and normal balances? Interest Revenue Accounts Payable Common Stock Office Supplies Advertising Expense Unearned Revenue Prepaid Rent Utility Expense Dividends Service Revenue  Requirements Identify each account as an asset (A), liability (L), or equity (E). Identify whether the account is increased with a debit (DR) or credit (CR). Identify whether the normal balance is a debit (DR) or credit (CR).

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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Identifying accounts, increases in accounts, and normal balances?

  • Interest Revenue
  • Accounts Payable
  • Common Stock
  • Office Supplies
  • Advertising Expense
  • Unearned Revenue
  • Prepaid Rent
  • Utility Expense
  • Dividends
  • Service Revenue

 Requirements

  1. Identify each account as an asset (A), liability (L), or equity (E).
  2. Identify whether the account is increased with a debit (DR) or credit (CR).
  3. Identify whether the normal balance is a debit (DR) or credit (CR).
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