PA5. LO 3.2 LO 3.4 Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the normal balance (Dr for debit; Cr for credit) for each. Financial Normal balance statement Assets Common stock Dividends Expenses Liabilities Revenue

PA5. LO 3.2 LO 3.4 Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the normal balance (Dr for debit; Cr for credit) for each. Financial Normal balance statement Assets Common stock Dividends Expenses Liabilities Revenue

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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Question

PA5. LO 3.2 LO 3.4 Identify the financial statement on which each of the following account categories would
appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the
normal balance (Dr for debit; Cr for credit) for each.
Financial
Normal balance
statement
Assets
Common stock
Dividends
Expenses
Liabilities
Revenue

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