Indicate whether its normal balance is a debit or a credit

Assignment Help Accounting Basics

Reference no: EM131527452

Question: For each account listed in Exercise, indicate whether its normal balance is a debit or a credit.

Exercise: The following accounts have been adapted from recent financial statements of Time Warner:

Accounts Receivable

Accumulated Depreciation

Advertising Revenues

Cable Television Equipment

Compact Discs and DVD Merchandise

Interest Expense

Music Catalogs and Copyrights

Notes Payable (due December 6, 2019)

Property, Plant, and Equipment

Retained Earnings

Royalties and Programming Costs Payable

Selling, General, and Administrative Expense

Short-Term Investments

Unearned Subscriptions

Identify each account as either a balance sheet account or an income statement account. For each balance sheet account, identify it as an asset, a liability, or stockholders' equity. For each income statement account, identify it as a revenue or an expense.

Reference no: EM131527452

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