Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...

Question

Question

Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances of accounts LO C4 1

Add a comment Improve this question Transcribed image text

Answer 1

Answer #1

	Type of	Normal	Increase
Account	account	balance	(Dr. or Cr.)

Unearned Revenue	Liability	Credit	Cr.
Fees Earned	Revenue	Credit	Cr.
Equipment	Asset	Debit	Dr.
Notes Payable	Liability	Credit	Cr.
Common Stock	Equity	Credit	Cr.
Supplies	Asset	Debit	Dr.
Accounts Payable	Liability	Credit	Cr.
Consulting Revenue	Revenue	Credit	Cr.
Salaries Expense	Expense	Debit	Dr.
Utilities Expense	Expense	Debit	Dr.
Prepaid Rent	Asset	Debit	Dr.
Wages Payable	Liability	Credit	Cr.

Is this okay?

Add a comment

Answer 2

Similar Homework Help Questions

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance. Type of Account Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e. Accounts...
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset, liability, equity. revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (C) to identify the kind of entry that would increase the account balance Type of Account Asset Normal Balance Increase (Dr. or Cr.) Account a Land b. Cash c. Legal Expense d. Prepaid Insurance e...
CH 2 Problem Assignment i Saved Help Save & Exit Submit Check my work For each...

CH 2 Problem Assignment i Saved Help Save & Exit Submit Check my work For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. 0.5 points Type of Account Normal Balance Increase (Dr. or Cr.) 8 04:38:40 eBook Account a. Accounts Receivable b....

For each of the following (1) identify the type of account as an asset, liability, equity,...

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance. Type of Account Normal Balance Increase (Dr. or Cr.) 48 Account a. Prepaid Insurance b. Accounts Receivable c. Dividends d. License Fee Revenue e. Uneamed Revenue 1. Fees Eamed 9. Equipment h Notes...
For each of the following (1) identify the type of account as an asset. liability, equity, revenue, or expense:

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) identify the type of account as an asset. liability, equity, revenue, or expense: (2) identify the normal balance of the account; and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance.
For each of the following (1) identify the type of account as an asset, lability, equity,...

For each of the following (1) identify the type of account as an asset, lability, equity, revenue, or expense. (2) identify the normal balance of the account, and (3) select debit (Dr) or credit (Cr.) to identify the kind of entry that would increase the account balance Type of Account Normal Balance Increase (Dr. or Cr.) a. Land b. Cash c. Legal Expense d. Prepaid Insurance e Accounts Receivable f Owner, Withdrawals g License Fee Revenue h. Unearned Revenue i...

E2-12 Identifying accounts, increases in accounts, and normal balances

E2-12 Identifying accounts, increases in accounts, and normal balances a. Interest Revenue f. Unearned Revenue b. Accounts Payable g. Prepaid Rent c. Calhoun, Capital h. Utilities Expense d. Office Supplies i. Calhoun, Withdrawals e. Advertising Expense j. Service Revenue Requirements 1. Identify each account as asset (A), liability (L), or equity (E). 2. Identify whether the account is increased with a debit (DR) or credit (CR). 3. Identify whether the normal balance is a debit (DR) or credit (CR).
can you pls solve S2 exercise and S3 exercise S2-2 Identifying increases and decreases in accounts...

can you pls solve S2 exercise and S3 exercise S2-2 Identifying increases and decreases in accounts For each account, identify whether the changes would be recorded as a debit (DR) OF credit (CR). a. Increase to Accounts Receivable f. Decrease to Prepaid Rent b. Decrease to Unearned Revenue g. Increase to Proudfoot, Capital c. Decrease to Cash h. Increase to Notes Receivable d. Increase to Interest Expense i. Decrease to Accounts Payable e. Increase to Salaries Payable j. Increase to...
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. Rent Expense Debit b. Legal Expense Debit c. Interest Payable Credit d. Factory Debit e. Fees Earned (Revenues) Credit f. Haircutting Revenue Credit 9. Accounts Payable Credit h. Land Debit 1. Office Supplies Debit

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account;

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance.

Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...

Homework Answers

Add Answer to:
Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...

Post as a guest

Earn Coins

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...

Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following...

CH 2 Problem Assignment i Saved Help Save & Exit Submit Check my work For each...

For each of the following (1) identify the type of account as an asset, liability, equity,...

For each of the following (1) identify the type of account as an asset. liability, equity, revenue, or expense:

For each of the following (1) identify the type of account as an asset, lability, equity,...

E2-12 Identifying accounts, increases in accounts, and normal balances

can you pls solve S2 exercise and S3 exercise S2-2 Identifying increases and decreases in accounts...

QS 2-4 Identifying normal balance LO C4 Identify the normal balance (debit or credit) for each...

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account;

Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...

Homework Answers

Add Answer to: Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...

Post as a guest

Earn Coins

Add Answer to:
Required Problem Solving Assignment - Chapter 2 Savod 1 Exercise 2-4 Identifying type and normal balances...