Question

Please open the attached Excel. Fill it in and Submit. The account can be on the income statement or the balance sheet, Never on both.

Same rule for Permanent  or temporary. Either one. So mark an X in the appropriate column. Write if Debit or Credit is the normal balance

					Normal Bal
	Account Name	Type	Income statement	Balance Sheet	Debit/Credit	Perm./Temp
1	Cash
2	Capital Stock
3	Mortgage Payable
4	Interest Receivable
5	Supplies
6	Account Payable
7	Short Term Investments
8	Repair Expense
9	Unearned Service Revenue
10	Equipment
11	Depreciation Expense
12	Interest Revenue
13	Salaries Expense
14	Retained Earnings
15	Accumulated Depreciation
16	Utilites Expense
17	Salaries Payable
18	Account Receivable
19	Notes Payable
20	Service Revenue

Answer 1

Solution

Account Name	Type	Income statement	Balance Sheet	Normal Bal Debit/Credit	Perm./Temp
Cash	Asset		X	Debit	Permanent
Capital Stock	Equity		X	Credit	Permanent
Mortgage Payable	Liability		X	Credit	Permanent
Interest Receivable	Asset		X	Debit	Permanent
Supplies	Asset		X	Debit	Permanent
Account Payable	Liability		X	Credit	Permanent
Short Term Investments	Asset		X	Debit	Permanent
Repair Expense	Expense	X		Debit	Temporary
Unearned Service Revenue	Liability		X	Credit	Permanent
Equipment	Asset		X	Debit	Permanent
Depreciation Expense	Expense	X		Debit	Temporary
Interest Revenue	Revenue	X		Credit	Temporary
Salaries Expense	Expense	X		Debit	Temporary
Retained Earnings	Equity		X	Credit	Permanent
Accumulated Depreciation	Contra Asset		X	Credit	Permanent
Utilites Expense	Expense	X		Debit	Temporary
Salaries Payable	Liability		X	Credit	Permanent
Account Receivable	Asset		X	Debit	Permanent
Notes Payable	Liability		X	Credit	Permanent
Service Revenue	Revenue	X		Credit	Temporary