Below is a list of common accounts.Accounts Debit or CreditCash 1.__________Service Revenue 2.__________Salaries Expense 3.__________Accounts Payable 4.__________Equipment 5.__________Retained Earnings 6.__________Utilities Expense 7.__________Accounts Receivable 8.__________Dividends 9.__________Common Stock 10.__________Required:Indicate whether the normal balance of each account is a debit or a credit.
Below is a list of common accounts.Accounts Debit or CreditCash 1.__________Service Revenue 2.__________Salaries Expense 3.__________Accounts Payable 4.__________Equipment 5.__________Retained Earnings 6.__________Utilities Expense 7.__________Accounts Receivable 8.__________Dividends 9.__________Common Stock 10.__________Required:Indicate whether the normal balance of each account is a debit or a credit.
Financial Accounting: The Impact on Decision Makers
10th Edition
ISBN:9781305654174
Author:Gary A. Porter, Curtis L. Norton
Publisher:Gary A. Porter, Curtis L. Norton
Chapter3: Processing Accounting Information
Section: Chapter Questions
Problem 3.6E: Normal Account Balances Each account has a normal balance. For the following list of accounts,...
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Below is a list of common accounts.
Accounts Debit or Credit
Cash 1.__________
Service Revenue 2.__________
Salaries Expense 3.__________
Accounts Payable 4.__________
Equipment 5.__________
Retained Earnings 6.__________
Utilities Expense 7.__________
Accounts Receivable 8.__________
Dividends 9.__________
Common Stock 10.__________
Required:
Indicate whether the normal balance of each account is a debit or a credit.
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