Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the normal balance (Dr for debit; Cr for credit) for each. Financial statement Normal balance

Assets

Common stock

Dividends

Expenses

Liabilities

Revenue

Indicate what impact (+ for increase; - for decrease) the following transactions would have on the accounting equation, Assets = Liabilities + Equity.

Impact 1 Impact 2

Issued stock for cash

Purchased supplies on account

Paid employee salaries

Paid note payment to bank

Collected balance on accounts receivable