Question

Identify the normal balance (debit or credit) for each of the following accounts. Show All Items Normal Ending Balance Wareho
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Answer #1

Ans:

Normal Ending Balance Debit or Credit
a. Warehouse Debit
b. Common Stock Credit
c. Land Debit
d. Dividends Credit
e. Repairs Expense Credit
f. Prepaid Insurance Debit
g. Wages payable Credit
h. Unearned Ticket Revenue Credit
I. Trucks Debit

Note:

Assumed Dividends as Dividends payable and Repair Expense as payable.

If any doubts or queries please comment and clarify I'll explain ASAP

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