Answered step by step
Verified Expert Solution
Question
00
1 Approved Answer
can be sure to make it clear what goes in each column thanks!! For each of the following (1) identify the type of account as
can be sure to make it clear what goes in each column thanks!!
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) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. Account Type of Account Normal Balance Increase (Dr. or Cr.) a. Equipment b. Notes Payable C. Common Stock d. Supplies e. Accounts Payable f. Consulting Revenue g. Salaries Expense h. Utilities Expense i. Prepaid Rent j Wages Payable k Notes Receivable 1. Land 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) select debit (Dr) or credit (Cr) to identify the kind of entry that would increase the account balance. Type of Account Normal Balance Increase (Dr. or Cr.) e Account a. Equipment b. Notes Payable c. Common Stock d. Supplies Accounts Payable f. Consulting Revenue 9. Salaries Expense h Utilities Expense Prepaid Rent 1 Wages Payable k Notes Receivable LandStep by Step Solution
There are 3 Steps involved in it
Step: 1
Get Instant Access with AI-Powered Solutions
See step-by-step solutions with expert insights and AI powered tools for academic success
Step: 2
Step: 3
Ace Your Homework with AI
Get the answers you need in no time with our AI-driven, step-by-step assistance
Get Started