FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE
9th Edition
ISBN: 9781119595724
Author: Kimmel
Publisher: WILEY C
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Chapter 3, Problem 3.2DIE
To determine

Balance sheet:

A balance sheet is a financial statement consists of the assets, liabilities, and the stockholder’s equity of the company. The balance of the assets account must be equal to that of the liabilities and the stockholder’s equity account.

Normal balance:

When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance and all the liabilities accounts have normal credit balance.

To indicate: the normal balance of each account.

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FIN. ACCT.-TOOLS FOR BUS.DEC.MAKING-CODE

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