Below is a list of typical accounts.

Required:
For each account, indicate
(1) The type of account
(2) Whether the normal account balance is a debit or credit.
For the type of account, choose from asset, liability, stockholders’ equity, dividend, revenue, orexpense.

Transcribed Image Text:

Nornal Balance Accounts Type of Account (Debit or Credit) 1. Salaries Payable 2. Common Stock 3. Prepaid Rent 4. Buildings 5. Utilities Expense 6. Equipment 7. Rent Expense 8. Notes Payable 9. Salaries Expense 10. Insurance Expense 11. Cash 2.Service Revenue