Identify the normal balance of the account

Assignment Help Accounting Basics

Reference no: EM131528094

Question: For each of the following

(1) identify the type of account as an asset, liability, equity, revenue, or expense,

(2) identify the normal balance of the account, and

(3) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance.

a. Fees Earned

b. Equipment

c. Notes Payable

d. Owner Capital

e. Cash

f. Legal Expense

g. Prepaid Insurance

h. Land

i. Accounts Receivable

j. Owner Withdrawals

k. License Fee Revenue

l. Unearned Revenue

Reference no: EM131528094

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