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Alcounts Payable Prepaid Insurance Accounts Receivable Rent Expense Cash Retained Earnings Common Stock Supplies Dividends Supplies Expense Equipment Unearned Rent Fees Earned Wages Expense Miscellaneous

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Alcounts Payable Prepaid Insurance Accounts Receivable Rent Expense Cash Retained Earnings Common Stock Supplies Dividends Supplies Expense Equipment Unearned Rent Fees Earned Wages Expense Miscellaneous Expense List the accounts in the order in which they should appear in the ledger of LeadCo School and assign account numbers. Each account number is to have two digits: the first digit is to indicate the major classification (1 for assets, etc.), and the second digit is to identify the specific account within each major classification (11 for Cash, etc.). EX 2-4 Rules of debit and credit Obj. 1, 2 The following table summarizes the rules of debit and credit. For each of the items a through 1, indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance (a) Credit Credit (c) (b) (d) Balance sheet accounts: Asset Liability Stockholders' equity: Common Stock Retained Earnings Dividends Income statement accounts: Revenue Expense Credit (g) Debit (e) (h) Credit (f) Credit 0 00) (0) (k) Credit Credit Debit EX 2-5 Normal entries for accounts Obj. 2 During the month, Gates Labs Co. has a substantial number of transactions affecting each of the

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