What would be the normal balance (DR or CR) for each of the following account titles? 1.
Question:
What would be the normal balance (DR or CR) for each of the following account titles?
1. Accounts receivable
2. Accounts payable
3. Inventory
4. Provision for employee entitlements
5. Taxes payable
6. Retained profits
7. Share capital
8. Investments
9. Plant and equipment
10. Accrued expenses
11. Prepayments.
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In accounting accounts are classified as either assets liabilities equity revenues or expenses and each of these types of accounts has a normal balanc...View the full answer
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Related Book For 
Financial Accounting An Integrated Approach
ISBN: 9780170411028
7th Edition
Authors: Ken Trotman, Elizabeth Carson
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