FINANCIAL ACCOUNTING:TOOLS FOR BUSINESS
FINANCIAL ACCOUNTING:TOOLS FOR BUSINESS
19th Edition
ISBN: 9781119493624
Author: Kimmel
Publisher: WILEY
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Chapter 3, Problem 3.2EYCT

(a)

To determine

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 determine: The normal balance for the company C, and company V:

(b)

To determine

To identify: The other accounts ordinarily involved in the following transactions.

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