Question

Tab Windo Helio File Edit Bookmarks People View History Pearson ACT - Corporations act personcmg.com/test-out/ Build a T-account for each account title. Label the DR (debit), CR (credit), NB (normal balance), and "+" or ".". Credit Debit Normal Balance Dividends Office Supplies Common Stock + + + Interest Revenue Utilities Payable Insurance Expense + + + tv 19 MacBook Air DU DO g. 80 F F5 53 A @ % 5 $ 4 & 7 # 3 8 9 0 8 6 2

Answer 1

Office Supplies Common stock Dividends + + Credit Debit Credit Debit Normal Balance Credit Normal Balance Debit Normal Balance Insurance Expense Utilities Payable Interest Revenue + + Credit Debit Debit Debit Normal Balance Credit Normal Balance Credit Normal Balance Office Supplies Asset Common stock Equity Dividends Expense Insurance Expense Expense Utilities Payable Liability Interest Revenue Income In the T-Account, left side is Debit and Right side is credit. "Assets","Expenses" and "Dividends" have 'debit balance' as their normal balances. These are increased(+) by debit and decreased by credit "Liabilities", "Revenues" and "Equity" have 'credit balance' as their normal balances. These are Increased(+) by credit and decreased (-) by debit. Insurance expense, and Dividends; have 'debit balance' as their normal balances and increased(+) by debit and decreased(-) by credit Liabilities:Utilities payable, Equity: Common stock, and Revenues: Interest revenue; have 'credit balance' as their normal balances and Increased(+) by credit and decreased(-) by debit.

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