Identify the normal balance and type of account for the following. In identifying the normal balance, use
Question:
Identify the normal balance and type of account for the following. In identifying the normal balance, use “Dr” for debit or “Cr” for credit. The first one is done as an example.
Transcribed Image Text:
Account Name Accounts Receivable Merchandise Inventory Sales Tax Payable Sales Sales Discounts Sales Returns and Allowances Cost of Goods Sold Credit Card Expense Normal Balance Dr Type Of Account Asset
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 64% (14 reviews)
Account Name Normal Balance Type Of Account Accounts Recei...View the full answer
Answered By
Maurat Ivan
I have been working in the education and tutoring field for the past five years, and have gained a wealth of experience and knowledge in this area. I have a bachelor's degree in education, and have completed additional coursework in teaching and tutoring.
In my previous roles, I have worked as a teacher in both private and public schools, teaching a variety of subjects including math, science, and English. I have also worked as a private tutor, providing one-on-one tutoring to students in need of additional support and guidance.
In my current role, I work as an online tutor, providing virtual tutoring services to students around the world. I have experience using a variety of online tutoring platforms and technologies, and am comfortable working with students of all ages and skill levels.
I am passionate about helping students succeed and reach their full potential, and I believe that my education and tutoring experience make me an excellent candidate for a tutoring job at SolutionInn. I am confident that my knowledge, skills, and experience will enable me to provide top-quality tutoring services to students on the SolutionInn platform.
0.00
0 Reviews
10+ Question Solved
Related Book For
College Accounting A Contemporary Approach
ISBN: 9781260780352
5th Edition
Authors: David Haddock, John Price, Michael Farina
Question Posted:
Students also viewed these Business questions
-
1. During the first half of the course you have created project deliverables for your organizations software acquisition of a CRM package. a. What have you learned thus far do as a project manager...
-
Identify the normal balance of the following accounts. Use dr for debit or cr for credit. Sales Sales Returns and Allowances Sales Discounts Credit Card Expense Sales Tax Payable
-
For each transaction described, identify which component of the accounting equation increases and/or decreases. The first one is done as an example. Services were performed for a client on credit. a....
-
Which of the following statements about Visa credit card sales is incorrect? (a) The credit card issuer makes the credit investigation of the customer. (b) The retailer is not involved in the...
-
1. In Franks view, how important is the work ethic? How is this view causing him problems? 2. Why do the people not work as hard as Frank does? What is the problem? 3. What mistake is Frank making...
-
A 25.0-mL sample of sodium sulfate solution was analyzed by adding an excess of barium chloride solution to produce barium sulfate crystals, which were filtered from the solution. Na2SO4(aq) +...
-
Suppose it is 3:00, and you decide to check your email every 5 hours. What time will it be when you check your email the ninth time?
-
Data for Fairchild Company are presented in E23-11. Prepare a statement of cash flows using the direct method. (Do not prepare a reconciliation schedule.)
-
E 2-10 - Accounting for purchase commitments On Nov. 15, 2020, Malone Corp. entered into a commitment to purchase 200,000 units of raw material X for P40 per unit to be delivered on Mar. 15, 2021....
-
Matt Trozo formed a lawn service company as a summer job. To start the business on May 1, he deposited $2,500 in a new bank account in the name of Trozzo Lawn Service, Inc. consisting of a $1,500...
-
Lantz Corporation engaged in the following transactions during June. The company uses the perpetual inventory system. Record these transactions in a general journal. DATE 20X1 June 4 15 30...
-
Post the entries in the general journal below to the accounts payable account in the general ledger and to the appropriate accounts in the accounts payable ledger. Assume the following account...
-
The declaration, record, and payment dates in connection with a cash dividend of $480,000 on a corporation's common stock are February 1, March 18, and May 1. Journalize the entries required on each...
-
Professional/Industry Economic (global, national, and regional) Sociocultural/Demographic Technology Political/Government/Legal Analyze howeach of the components listed above of the health care...
-
Grinch's Whoville Corporation ("Grinch") manufactures a basic electric shaver. Grinch is currently at manufacturing capacity, producing 20,000 shavers per month. Grinch normally sells the basic...
-
Margaret is hoping that an investment of $30,000 will provide additional revenue to the store of $18,000 per year for 3 years. Her partner in crime, Joseph, is confident that a larger investment of...
-
A mass ion source generates with masses of 3 . 2 x 1 0 - 2 25 kg and of + 2 e .The charged particles are accelerated through an electrical field and acquire an of 0 . 4 0 MeV. Then, the pass through...
-
Using the table below, calculate total cost (TC), average fixed cost (AFC), average variable cost (AVC), and average total cost (ATC). What is the efficient output level? Visits TFC TVC TC AFC AVC...
-
Volvo Group reports the following information for its product warranty costs as of December 31, 2014, along with provisions and utilizations of warranty liabilities for the year ended December 31,...
-
Write a paper about medication error system 2016.
-
Obtain all data that is necessary from the worksheet prepared for Healthy Eating Foods Company in Problem 12.5A at the end of Chapter 12. Then follow the instructions to complete this problem....
-
The data below concerns adjustments to be made at Coffee Bean Importers. INSTRUCTIONS 1. Record the adjusting entries in the general journal as of December 31, 2019. Use 25 as the first journal page...
-
ComputerGeeks.com is a retail store that sells computers, laptops, supplies, and other electronic devices. The adjusted trial balance data given below is from the firm's worksheet for the year ended...
-
A job analyst focuses directly on the knowledge, skills, abilities, and other characteristics workers need to perform effectively in the target position. This is the _____ method. Group of answer...
-
ClassicSound is a specialty company that hand-crafts violins. They current produce 10 violins a month with 5 employees, but wish to ramp up to 20 violins a month. Logically, if it takes 5 workers to...
-
Menards is hiring people for their lumber warehouse. Everyone hired must be able to put new stock into the bins and help customers load their orders. Being certified to drive a forklift is...
Study smarter with the SolutionInn App