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.

Question

Want to see the full answer?

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

Students have asked these similar questions

!!???

Gable Industries sells its product for $15 per unit. Next year, fixed expenses are expected to be $500,000, and variable expenses are anticipated to be $9 per unit. How many units must the company sell to generate a net operating income of $120,000? Need help

C&L Estates is developing a lakeside community that includes 300 homelots; 140 lots are lakefront lots and will sell for $110,000 each; 160 are interior lots and will sell for $70,000 each. The developer acquired the landfor $2,100,000 and spent another $1,800,000 on road and utility improvements. Compute the amount of joint cost to be allocated to the lakefront lots using a value basis.

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

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

Want to see the full answer?

Check out a sample textbook solution

See solution

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.

Expert Solution & Answer

Want to see the full answer?

Check out a sample textbook solution

See solution

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

Expert Solution & Answer

Answer 15

Expert Solution & Answer

Answer 16

Want to see the full answer?

Check out a sample textbook solution

See solution

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.

Concept explainers

Videos

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.

Want to see the full answer?

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