For each of the following (1) identify the type of account as an asset, liability, equity, revenue,
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For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the normal balance of the account, and (3) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance.
a. Cash
b. Legal Expense
c. Prepaid Insurance
d. Land
e. Accounts Receivable
f. Owner Withdrawals g. License Fee Revenue h. Unearned Revenue I. Fees Earned j. Equipment k. Notes Payable 1. Owner Capital
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Related Book For
Fundamental Accounting Principles Volume 2
ISBN: 9780077716660
21st Edition
Authors: John Wild, Ken Shaw, Barbara Chiappetta
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