H J 4 4 A B C D E F G 1 2.) For each of the following accounts indicate Points: 24 2. (a) the type of account - 3 Asset or Liability or Owner's Equity or Revenue or Expense (b) the debit and credit effects, and 5 (c) the normal account balance. 6 7 Example 0 Cash a. Asset account 9 b. Debit increases, credit decreases 10 c. Normal balance - debit co o 11 Accoun 12 1 Salaries payable a. 13 b. 14 C. Normal Balance = 15 16 2 Prepaid Insurance a. 17 b. 18 c. Normal Balance 19 20 3 Owner's Capital a. 21 b. 22 C. Normal Balance = F 23 24 4 Owner's Drawings a. 25 b. 26 C. Normal Balance = 27 28 5 Buildings a. 29 b. 30 c. Normal Balance = 31 32 6 Supplies expense a. 33 b. 34 C. Normal Balance = 35 36 7 Service Revenue a. 37 b. 38 c. Normal Balance 39 40 8 Accumulated depreciation a. b. 41 C. Normal Balance = 42 43