Question

B. Identify the normal balance for each of the following accounts by placing a Dr. (debit) or a Cr. (credit) in the space pro
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Answer #1

Answer

  • Note

Debit balance

Credit Balance

Assets

Contra Asset

Expenses

Equity accounts

Dividend

Revenues

Contra Equity

Liabilities

  • Requirement

Debit, because its an Assets

1

Debit, being contra equity

2

Credit, being equity

3

Debit, being an expense

4

Debit, being an Asset

5

Debit, being an Asset

6

Credit, being a liability

7

Debit, being an expense

8

Debit, being an Asset

9

Debit, being an Asset

10

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