1. Consider the following accounts and identify each account as an asset (A), liability (L), or...

 

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1. Consider the following accounts and identify each account as an asset (A), liability (L), or equity (E). a. Notes Receivable b. Common Stock c. Prepaid Insurance d. Notes Payable e. Rent Revenue f. Taxes Payable g. Rent Expense h. Furniture i. Dividends j. Unearned Revenue (1) O (1) O (2) O O DR O CR OA OL OE (1) (2) (3) (4) (5) (6) (7) (2) O O DR O CR (8) (9) (10) (3) O OA OA OA OL OL OL OE OE OE 2. For each account, identify whether the normal balance is a debit (DR) or credit (CR). a. Notes Payable (1) b. Dividends (2) c. Service Revenue (3) d. Land (4) El e. Unearned Revenue (5) f. Common Stock (6) g. Utilities Expense (7) h. Office Supplies (8) i. Advertising Expense (9) j. Interest Payable (10) 000 (4) O (3) O O DR OA OL OE O CR (5) O (4) O OA OL OE O DR O CR (6) O (5) O O DR O CR (7) O (6) O OA OL OE O DR O CR (8) O OA А OL OE (7) O O DR O CR (9) O OA OL OE (8) O O DR O CR (10) O OA OL OE (9) O O DR O CR 9 (10) O O DR O CR 1. Consider the following accounts and identify each account as an asset (A), liability (L), or equity (E). a. Notes Receivable b. Common Stock c. Prepaid Insurance d. Notes Payable e. Rent Revenue f. Taxes Payable g. Rent Expense h. Furniture i. Dividends j. Unearned Revenue (1) O (1) O (2) O O DR O CR OA OL OE (1) (2) (3) (4) (5) (6) (7) (2) O O DR O CR (8) (9) (10) (3) O OA OA OA OL OL OL OE OE OE 2. For each account, identify whether the normal balance is a debit (DR) or credit (CR). a. Notes Payable (1) b. Dividends (2) c. Service Revenue (3) d. Land (4) El e. Unearned Revenue (5) f. Common Stock (6) g. Utilities Expense (7) h. Office Supplies (8) i. Advertising Expense (9) j. Interest Payable (10) 000 (4) O (3) O O DR OA OL OE O CR (5) O (4) O OA OL OE O DR O CR (6) O (5) O O DR O CR (7) O (6) O OA OL OE O DR O CR (8) O OA А OL OE (7) O O DR O CR (9) O OA OL OE (8) O O DR O CR (10) O OA OL OE (9) O O DR O CR 9 (10) O O DR O CR

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Question Q1 Note AssetA LiabilityL EquityE a Notes receivable A b Common stock E c Prepaid in... View the full answer