For the following accounts please indicate whether the normal balance is a debit or a credit....

Question

Question

For the following accounts please indicate whether the normal balance is a debit or a credit.

Answer 1

Answer #1

A. Sales : Credit balance

B. Dividends : Debit balance

C. Office supplies : Debit balance

D. Retained earnings : Credit balance

E. Accounts receivable : Debit balance

F. Prepaid rent : Debit balance

G. Prepaid insurance : Debit balance

H. Wages payable : Credit balance

I. Buidling : Debit balance

J. Wages expense : Debit balance

Answer 2

Similar Homework Help Questions

Indicate whether a debit or credit decreases the normal balance of each of the following accounts....

Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Cash b. Accounts Receivable c. Note Receivable Prepaid Insurance Prepaid Rent Service Fees Earned Prepaid Parking Supplies Interest Revenue Store Equipment k Office Supplies Salaries Payable
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance...

Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance Fees Eamed (Revenues) b. Office Supplies c Owner, Withdrawals d. Wages Expense e. Accounts Receivable E Prepaid Rent 9. Wages Payable h. Building Owner. Capital Debit Credit
Indicate whether a debit or credit decreases the normal balance of each of the following accounts....

Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance Credit Debit a. Factory b. Fuel Expense C. Rent Expense d. Rent Payable e. Furniture f. Land g. Equipment h. Common Stock i. Interest Payable j. Delivery Expense k. Postage Expense 1. Buildings Debit Debit Debit

Identify whether a debit or credit results in the indicated change for each of the following...

Identify whether a debit or credit results in the indicated change for each of the following accounts. a. To increase Note Receivable b. To decrease Prepaid Rent c. To increase Delivery Expense d. To increase Haircutting Revenue e. To decrease Utilities Payable f. To decrease Prepaid Parking g. To increase Taxes Payable h. To decrease Furniture i. To increase Common Stock j. To increase Office Supplies Indicate the financial statement on which each of the following items appears. Use Ifor...
Indicate whether each of the following accounts has its balance increased with a debit or a...

Indicate whether each of the following accounts has its balance increased with a debit or a credit. Notes Payable Cash Common Stock Prepaid Insurance Dividends Land Service Revenue Choose.. Choose... Choose... * Choose... + debit + Choose...+ Choose... + Choose...+ Accounts Receivable Supplies Expense Choose... + Deferred (or Unearned) RevenueChoose....
QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each...

QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Note Payable b. Prepaid Rent c. Prepaid Insurance d. Fuel Expense e. Furniture f. Rent Revenue g. Postage Expense h. Office Equipment i. Building

Sigma Consulting Group Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 22,000 $...

Sigma Consulting Group Adjusted Trial Balance December 31, 2020 US Dollar Debit Credit $ 22,000 $ 12,000 $ 223,000 $ 20,000 $ 325,000 $ 39,000 $ 300,000 $ 20,000 $ 3,000 $ 175,000 $ 295,000 $ 3,200 $ 39,000 Accounts Payable Accounts Receivable Accumulated Depreciation - Building Accumulated Depreciation - Equipment Building Cash Common Stock Depreciation Expense Dividends Equipment Fees Earned Interest Expense Insurance Expense Interest Payable Land Miscellaneous Expense Notes Payable Prepaid Insurance Expense Rent Expense Retained Earnings Sales...
Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance...

Identify the normal balance (debit or credit) for each of the following accounts. Normal Ending Balance a. Dividends b. Prepaid Rent c. Common Stock d. Prepaid Service Fees e. Utilities Payable f. Prepaid Parking g. Taxes Payable h. Supplies i. Interest Payable
32-39 For each of the following accounts, indicate whether each is increased by (has a "normal"...

32-39 For each of the following accounts, indicate whether each is increased by (has a "normal" balance of): A. Do not use letter A B. Do not use letter B C. Credit D. Debit 32. Accounts Receivable 33. Accounts Payable 34. Insurance Expense 35. Unearned Revenue 36. Service Revenue 37. Retained Earnings 38. Cash 39. Dividends

Indicate whether each of the following would be reported in the financial statements as a (a)...

Indicate whether each of the following would be reported in the financial statements as a (a) current asset, (b) property, plant, and equipment, (c) current liability, (d) revenue, or (e) expense: 1. Truck Current Asset 2. Accumulated Depreciation Property, Plant, and Equipment 3. Telephone Expense Expense 4. Fees Earned Revenue 5. Wages Payable Current Liability Current Asset 6. Prepaid Insurance 7. Office Supplies 8. Dining Expense Property, Plant, and Equipment Expense Current Liability 9. Unearned Rent Beachside Realty rents condominiums...