Question

Instruction 1. Identify the type of accounts (i.e., asset, liability, or equity), and its normal balanc 'A' for asset, 'L' for liability, or 'E' for equity D' for debit, or 'C' for credit Account Cash Type Asset Liability Asset Equity Equity Equity Equity Equity Liability Equity Asset Asset Asset Asset Asset Liability Liability Equity Equity Asset Asset Normal Balance Debit Example 1. Accounts Payable 2. Accounts Receivable 3. Common Stock 4. Room Sales Revenue 5. Rent Expense 6. Rent Revenue 7. Salaries expense 8. Notes Payable 9. Utility Expense 10. Notes Receivable 11. Building 12. Land 13. Equipment 14. Mini Van 15. Interest Payable 16. Tax Payable 17. Tax Expense 18. Service Revenue 19. Furniture 20. Computer Equipment

Answer 1

	Account	Type	Normal balance
1	Accounts payable	Liability	C
2	Accounts receivable	Assets	D
3	Common stock	Equity	C
4	Room sales revenue	Equity	C
5	Rent expenses	Equity	D
6	Rent revenue	Equity	C
7	Salaries expenses	Equity	D
8	Notes payable	Liability	C
9	Utility expenses	Equity	D
10	Notes receivable	Assets	D
11	Building	Assets	D
12	Land	Assets	D
13	Equipment	Assets	D
14	Mini van	Assets	D
15	Interest payable	Liability	C
16	Tax payavle	Liability	C
17	Tax expense	Equity	D
18	Service revenue	Equity	C
19	Furniture	Assets	D
20	Computer equipment	Assets	D
ans 2
No	Accounts Title	Dr	Cr
a	Cash	$30,000
	Room sales Revenue		$30,000
b	Rent expenses	$3,000
	Cash		$3,000
c	Accounts reveivable	$1,000
	Room sales Revenue		$1,000
D	Cleaning supplies	$1,500
	Cash		$1,500
e	Equipment	$1,500
	Accounts payable		$1,500
f	Cash	$1,000
	Common stock		$1,000
g	Accounts payable	$1,500
	Cash		$1,500
h	Cash	$1,000
	rent revenue		$1,000
e	Salaries/wages expenses	5000
	Cash		5000
If any doubt please comment