Required Indicate whether each of the following accounts normally has a debit balance or a credit balance:
Question:
Indicate whether each of the following accounts normally has a debit balance or a credit balance:
a. Salaries Expense
b. Consulting Revenue
c. Unearned Revenue
d. Accounts Payable
e. Dividends
f. Land g. Salaries Payable
h. Cash
i. Prepaid Insurance
j. Common Stock
k. Interest Revenue
l. Rent Expense
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... Accounts Payable
Accounts payable (AP) are bills to be paid as part of the normal course of business.This is a standard accounting term, one of the most common liabilities, which normally appears in the balance sheet listing of liabilities. Businesses receive...
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Related Book For
Fundamental Financial Accounting Concepts
ISBN: 978-0078025907
9th edition
Authors: Thomas Edmonds, Christopher Edmonds
Question Posted: