Normal balance: Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance . The excess amount of credit side over the debit side is shown as the normal credit balance. Type of account Normal balance Assets account Debit balance Liabilities account Credit balance Expense account Debit balance Revenue account Credit balance Dividends account Debit balance Table (1) To identify: the normal balances for the following accounts of company A.

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Answer 1

Question

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

(b)

To determine

To identify: the normal balances for the following accounts of company A.

(c)

To determine

To identify: the normal balances for the following accounts of company A.

(d)

To determine

To identify: the normal balances for the following accounts of company A.

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Journalize the following transactions in the accounts of Missouri Gaming Co., which operates a riverboat casino.Assume 360 days in a year. March 29 Received a $57,600, 60-day, 8% note dated March 29 from Karie Platt on account.April 30. Received a $43,200, 60-day, 10% note dated April 30 from Jon Kelly on account.May 28. The note dated March 29 from Karie Platt is dishonored, and the customer's account is charged forthe note, including interest.June 29. The note dated April 30 from Jon Kelly is dishonored, and the customer's account is charged for thenote, including interest.August Cash is received for the amount due on the dishonored note dated March 29 plus interest for 90 days26. at 12% on the total amount debited to Karie Platt on May 28.October Wrote off against the allowance account the amount charged to Jon Kelly on June 29 for the22. dishonored note dated April 30. March 29th ____________ _____ _____ ____________ _____ _____ Apr 30 ____________ _____ _____ ____________…

Answer 2

Question

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

(b)

To determine

To identify: the normal balances for the following accounts of company A.

(c)

To determine

To identify: the normal balances for the following accounts of company A.

(d)

To determine

To identify: the normal balances for the following accounts of company A.

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Answer 3

Question

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

(b)

To determine

To identify: the normal balances for the following accounts of company A.

(c)

To determine

To identify: the normal balances for the following accounts of company A.

(d)

To determine

To identify: the normal balances for the following accounts of company A.

Expert Solution & Answer

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Answer 4

Question

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

(b)

To determine

To identify: the normal balances for the following accounts of company A.

(c)

To determine

To identify: the normal balances for the following accounts of company A.

(d)

To determine

To identify: the normal balances for the following accounts of company A.

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Answer 5

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

(b)

To determine

To identify: the normal balances for the following accounts of company A.

(c)

To determine

To identify: the normal balances for the following accounts of company A.

(d)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 6

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

Answer 7

Chapter 3, Problem 14Q

(a)

To determine

Normal balance:

Normal balance refers to the excess of amount on one side, over the amount on the other side in an account. The excess amount of debit side over the credit side is shown as the normal debit balance. The excess amount of credit side over the debit side is shown as the normal credit balance.

Type of account Normal balance
Assets account Debit balance
Liabilities account Credit balance
Expense account Debit balance
Revenue account Credit balance
Dividends account Debit balance

Table (1)

To identify: the normal balances for the following accounts of company A.

Answer 8

(b)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 9

(b)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 10

(c)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 11

(c)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 12

(d)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 13

(d)

To determine

To identify: the normal balances for the following accounts of company A.

Answer 14

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Answer 15

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Answer 17

Ch. 3 - Prob. 1Q Ch. 3 - Can a business enter into a transaction that...Ch. 3 - Are the followingevents recorded in the accounting...Ch. 3 - Prob. 4Q Ch. 3 - Prob. 5Q Ch. 3 - Prob. 6Q Ch. 3 - Prob. 7Q Ch. 3 - Misty Reno, a beginning accounting student,...Ch. 3 - Prob. 9Q Ch. 3 - What is the normal balance for each of these...

Solution Summary: The author identifies the normal balances for the following accounts of company A.

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To identify: the normal balances for the following accounts of company A.

To identify: the normal balances for the following accounts of company A.

To identify: the normal balances for the following accounts of company A.

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Chapter 3 Solutions

Type of account	Normal balance
Assets account	Debit balance
Liabilities account	Credit balance
Expense account	Debit balance
Revenue account	Credit balance
Dividends account	Debit balance