Indicate whether each of the following types of accounts would normally have a debit or credit balance by circling either debit or credit in the column at the right:

Normal Balance

Type of Account (Circle one)

(a) Assets................................................................................ Debit Credit

(b) Liabilities.......................................................................... Debit Credit

(c) Owner's capital.................................................................. Debit Credit

(d) Revenues........................................................................... Debit Credit

(e) Expenses........................................................................... Debit Credit

(f) Drawing Debit Credit

6. If Irma Elkton, a dentist, owns office equipment amounting to $3,500, laboratory equipment amounting to $10,000, and other property that is used in the business amounting to $4,620, and owes business suppliers a total of $5,000, what is the owner's equity in the business?