Question: 2 ) For the accounts listed below, indicate if the normal balance of the account is a debit or credit. Normal Balance Accounts Debit or

2) For the accounts listed below, indicate if the normal balance of the account is a debit or
credit.
Normal Balance
Accounts Debit or Credit
a. Service Revenue
__________________
b. Postage Expense __________________
c. Accounts Receivable
__________________
d. Accounts Payable __________________
e. Owner's Capital __________________
f. Supplies __________________
g. Insurance Expense __________________
h. Owner's Drawings __________________
i. Land
__________________
j. Mortgage Payable

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

Professor Schulman ACC 203 Problem 1. Accounting equation. a. Office Store has assets equal to $ 123,000 and liabilities equal to $ 47,000 at year- end. What is the total equity for Office Store at...

Q:

2 ) For the accounts listed below, indicate if the normal balance of the account is a debit or credit. Normal Balance Accounts Debit or Credit a . Service Revenue _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _ _...

Q:

Assessment Task (1) (for chapter 2) Ex. (1) For the accounts listed below, indicate if the normal balance of the account is a debit or credit Normal Balance Dior Coedit Accounts 1 Service Revenue 2...

Q:

I attached my review questions that I need it to study. please help me before 7:00 pm 1. Indicate whether the following items would appear on the balance sheet (BS), income statement (IS), or...

Q:

This is my Review questionsthat I need it to study. please help me. 1. Indicate whether the following items would appear on the balance sheet (BS), income statement (IS), or retained earnings...

Q:

PROBLEM #1 - 20 points Match the letter corresponding to one of the basic elements of accounting to each of the accounts below: A = Asset L = Liability OE = Owner's Equity 6. Cash 7. Insurance...

Q:

6. Vhich of the following gives the correct sequence of accounting procedures? A. Analyze transaction, journal, ledger, trial balance, financial statements. B. Analyze transaction, ledger, journal,...

Q:

Repost, need help. last time images were blurry Question 29 of 29 / 10 Journalize the following business transactions in general journal form. Identity exch transaction by number. You mayorit...

Q:

Required : Prepare the necessary Journal entries for each of the transactions attachment to fill : Selected transactions for Sweet Home, a property management company, in its first month of business,...

Q:

answer of 39,40 39. For the accounts listed below, indicate if the normal balance of the account is a debit or credit. A normal balance is the side of the account where increases are recorded. Normal...

Q:

On January 1, 2011, Austin Auto Company decided to accumulate a fund to build an addition to its plant. The company will deposit $320,000 in the fund at each year-end, starting on December 31, 2011....

Q:

Axylotl Industries, Inc. is a relatively small company in Eastern Washington that produces avionic parts and equipment for both the commercial airline industry and the military. The company recently...

Q:

A convertible bond is convertible into common stock at a 3 2 : 1 ratio. The common stock is currently trading at $ 3 0 . The bond is currently trading at $ 9 8 0 . What is the parity price of the...

Q:

A company issues 1,050 shares of its common stock for $33,600 cash. Prepare journal entries to record this event under each of the following separate situations.