The financial statements of Columbia Sportswear Company are presented in Appendix B. Financial statements of VF Corporation are presented in Appendix C.

Instructions

(a) Based on the information contained in these Ls statements, determine the normal balance for:

(b) Identify the other account ordinarily involved when:
(1) Accounts Receivable is increased.
(2) Notes Payable is decreased.
(3) Equipment is increased.
(4) Interest Revenue is increased.

Transcribed Image Text:

Columbia Sportswear (1) Accounts Receivable (2) Net Property, Plant, and Equipment (3) Accounts Payable (4) Retained Earnings (5) Net Sales VF (1) Inventories (2) Income Taxes (3) Accrued Liabilities (4) Common Stock (5) Interest Expense