Normal Balances of Accounts Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit: Item Type of Account Debit or Credit a. Accounts Payable b. Accounts Receivable c. Ashley Griffin, Capital d. Ashley Griffin, Drawing e. Cash f. Fees Earned g. Office Equipment h. Rent Expense i. Supplies j. Wages Expense
Normal Balances of Accounts Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit: Item Type of Account Debit or Credit a. Accounts Payable b. Accounts Receivable c. Ashley Griffin, Capital d. Ashley Griffin, Drawing e. Cash f. Fees Earned g. Office Equipment h. Rent Expense i. Supplies j. Wages Expense
College Accounting (Book Only): A Career Approach
13th Edition
ISBN:9781337280570
Author:Scott, Cathy J.
Publisher:Scott, Cathy J.
Chapter4: Adjusting Entries And The Work Sheet
Section: Chapter Questions
Problem 2E: Classify each of the accounts listed below as assets (A), liabilities (L), owners equity (OE),...
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Normal Balances of Accounts
Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:
Item | Type of Account | Debit or Credit |
a. Accounts Payable | ||
b. |
||
c. Ashley Griffin, Capital | ||
d. Ashley Griffin, Drawing | ||
e. Cash | ||
f. Fees Earned | ||
g. Office Equipment | ||
h. Rent Expense | ||
i. Supplies | ||
j. Wages Expense |
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