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For the accounts listed below, indicate if the normal balance of the account is a debit or credit AND the correct financial statement (Balance
For the accounts listed below, indicate if the normal balance of the account is a debit or credit AND the correct financial statement (Balance Sheet, Income Statement or Statement of Retained Earnings) for each item. Abbreviations are allowed Dr, Cr, BS, IS, RE. Example: Cash-DR, BS 1. Prepaid Insurance. 2. Note Payable 3. Equipment 4. Accumulated Depreciation Equipment 5. Unearned evenue. 6. Dividends. 7. Taxes Payable 8. Inventory 9. Insurance Expense- 10. Common Stock. 11. Interest Revenue. 12. Interest Expense. 13. Cash. 14. Accounts Receivable. 15. Accounts Payable.
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