normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. Account Type of Account Normal Balance Increase (Dr. or Cr.) a Accounts Receivable b. Dividends c. License Fee Revenue d. Unearned Revenue e. Fees Earned f. Equipment 9 Notes Payable h. Common Stock i Supplies i Accounts Payable k Consulting Revenue L Salaries Expense

normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. Account Type of Account Normal Balance Increase (Dr. or Cr.) a Accounts Receivable b. Dividends c. License Fee Revenue d. Unearned Revenue e. Fees Earned f. Equipment 9 Notes Payable h. Common Stock i Supplies i Accounts Payable k Consulting Revenue L Salaries Expense

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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