Question

- / 1 View Policies Current Attempt in Progress The following accounts, in alphabetical order, were selected from recent financial statements of Krispy Kreme Doughnuts, Inc. For each account, indicate whether the normal balance is a debitor a credit, and the financial statement-balance sheet or income statement-where the account should be presented. Account Normal Balance Financial statement Accounts payable Accounts receivable Common stock Depreciation expense Interest expense Interest income Inventories Prepaid expenses Property and equipment Revenues eTextbook and Media MacBook Air SO 998 og DI DO FB F& FS F $ % & 7 4 5 6 8 9 0 { 20 T Y E Y O U P D G H F к L J > ?

Answer 1

Page-oll A Journal estoy always shows debit and codit Balance il Debit what comes in and credit cobat goes out. In other coords debit entry shows increase in asset oo expense account or decrease in liability or equit alc. On the otherside credit entiy means increase in liablity or decrease ip asset. Financial Statement care mainly four types Balance Sheet, income statements, cash flow Statements and statinet gshaubolders equity. Balance sheet shows assets. liabilities and stockholders equity, where I corree Statenzort shows revenue and eaponse. ANSWER Financial Statement Account Accounts Payable Credit Balanceshoot. Debit Balancesheet. Normal Balance Accounts Recievable Credit Common stock Balance sheet Debit. Debit Credit Depreciation Gepenge Interest Expense Interest Income. Inventories. Prepárod expenses. Prooperty & equipment Revenues. Debit. Income Statements Income Statement. Income Statement. Balanco Sheet Balancesheet. Balance sheet. Income Statement, Debit Debit Credit