The account would be recorded as a debit or a credit

Reference no: EM13666177

Given below are the effects on certain accounts of selected transactions entered into by a service company. You are to indicate by inserting a "Dr." or "Cr." in the proper column

(a) whether the change in the account would be recorded as a debit or a credit, and
(b) whether the normal balance in the account is a debit or a credit.

(a)Recorded as (b)
Normal balance is
Example: Decrease in cash Cr. Dr.
1. Increase in rent expense
2. Increase in capital stock
3. Decrease in accounts payable
4. Increase in accounts receivable
5. Increase in equipment
6. Decrease in long-term note payable
7. Increase in service revenue
8. Decrease in salaries expense
9. Increase in short-term note payable
10. Increase in dividends

Reference no: EM13666177

Questions Cloud

Write about john keats characteristics : Prepare a one page blog on one of the poems and the you tube video on it, discussing how the video helped you understand the poem or which images captured the meaning of the poem.

Prepare the entries to record the sale of bartho : Prepare the entries to record the sale of Bartho's equipment and receipt of the note.

Estimate of useful life more closely reflects reality : Which company's estimate of useful life more closely reflects reality?

Write the classic arcade game of breakout : For each instance variable in your program, explain why you chose to make it an instance variable rather than a local variable - How did you test whether the game would end correctly in this second case? Did you make any changes to the code when test..

The account would be recorded as a debit or a credit : The account would be recorded as a debit or a credit

A/r method for recognizing bad debt expense : A/R method for recognizing bad debt expense.

Describe the nature of tpgs advertising : Briefly describe the nature of TPG's advertising which caused ACCC to bring these proceedings and what statutory provisions did ACCC allege that TPG's advertising contravened.

Preparing operating budget components : Preparing Operating Budget Components

Accidental death and dismemberment coverage : Enhancing the group benefits plan offered to employees in two months. In addition to the group term life insurance coverage currently offered, employees will then have accidental death and dismemberment (AD&D) coverage

User Account

All Pages