Materia Assignment #3 - Accounting Equation Normal Balances Submit Answers Accounting Equation D Debit & C- Credit Common Stock - Increase Stockholders' Equity Liabilities Assets Common Stock Retained Earnings C C Cash Decrease D D C Retained Eanings Increase Revenue Expense C C C Deferred (Unearmed) Revenue Decrease Cash Increase Inventory Increase - Notes Payable - Increase Notes Payable Increase Supplies Increase Accounts payable Decrease Accounts Receivable- Decrease Prepaid Rent Increase Expenses Increase Revenues Increase