Classify each of the following accounts as asset, liability, stockholders equity, revenue, or expense and indicate the normal balance of each account a Common Stock b Common Stock Subscribed c Subscriptions Receivable, Common Stock d Retained Earnings e Preferred 8 Percent Stock f Organization Expe...

Classify each of the following accounts as asset, liability, stockholders equity, revenue, or expense and indicate the

Question:

Classify each of the following accounts as asset, liability, stockholders’ equity, revenue, or expense and indicate the normal balance of each account.
a.
b. Subscribed
c. Subscriptions Receivable,
d. Retained Earnings
e. Preferred 8 Percent Stock
f. Organization Expense
g. Paid-in Capital in Excess of Par Value

Common Stock
Common stock is an equity component that represents the worth of stock owned by the shareholders of the company. The common stock represents the par value of the shares outstanding at a balance sheet date. Public companies can trade their stocks on...

Fantastic news! We've Found the answer you've been seeking!

Step by Step Answer:

Answer rating: 75% (12 reviews)

a Common Stock x stockholders equity credit balance b Common Stock Subscribed x stockh...View the full answer

Answered By

Bree Normandin

Success in writing necessitates a commitment to grammatical excellence, a profound knack to pursue information, and a staunch adherence to deadlines, and the requirements of the individual publication. My background comprises writing research projects, research meta-analyses, literature reviews, white paper reports, multimedia projects, reports for peer-reviewed journals, among others. I work efficiently, with ease and deliver high-quality outputs within the stipulated deadline. I am proficient in APA, MLA, and Harvard referencing styles. I have good taste in writing and reading. I understand that this is a long standing and coupled with excellent research skills, analysis, well-articulated expressions, teamwork, availability all summed up by patience and passion. I put primacy on client satisfaction to gain loyalty, and trust for future projects. As a detail-oriented researcher with extensive experience surpassing eight years crafting high-quality custom written essays and numerous academic publications, I am confident that I could considerably exceed your expectations for the role of a freelance academic writer.

5.00+ 7+ Reviews 21+ Question Solved

Related Book For book-img-for-question

College Accounting

ISBN: 978-1111528126

11th edition

Authors: Tracie Nobles, Cathy Scott, Douglas McQuaig, Patricia Bille

See More Books

Question Posted: Oct 21, 2014 02:42 AM

See More Questions

Classify each of the following accounts as asset, liability, stockholders equity, revenue, or expense and indicate the

Question:

Step by Step Answer:

a Common Stock x stockholders equity credit balance b Common Stock Subscribed x stockh...View the full answer

College Accounting

Students also viewed these Accounting questions