Identify each of the items as an asset, a liability, or owner equity. a. A debt...
Identify each of the items as an asset, a liability, or owner equity.
a. A debt of $19,000 that must be paid to a bank
b. An account payable for the purchase of a computer on credit
c. The computer that was purchased for the business
d. The $250 that a customer owes the business for services
e. A truck owned by the business
f. The money that the business owes the dealer for the truck
g. The $13,000 cash in the business's bank account
h. The $10,000 difference between the assets and the liabilities
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Identify each of the
items as an asset, a liability, or owner equity.
a. A debt...
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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 Liability Normal Balance increase (Dr. or Cr.) Credit Credit Account a. Accounts Payable b. Consulting Revenue c. Salaries Expense d. Utilities Expense e. Prepaid Rent f. Wages Payable 9. Notes...
Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc...
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