3) State the decrease side (debit or credit) for each of the following accounts. a. Prepaid Expenses b. Contributed Capital c. Buildings d. Unearned Revenue e. Dividends f. Notes Receivable g. Interest Payable h. Sales Revenue i. Cost of Sales

3) State the decrease side (debit or credit) for each of the following accounts. a. Prepaid Expenses b. Contributed Capital c. Buildings d. Unearned Revenue e. Dividends f. Notes Receivable g. Interest Payable h. Sales Revenue i. Cost of Sales

Name: 3) State the decrease side (debit or credit) for each of the followin
Uploaded: 2024-03-04T10:43:15.000Z
Channel: Bartleby
Description: 3) State the decrease side (debit or credit) for each of the following accounts.a. Prepaid Expensesb. Contributed Capitalc. Buildingsd. Unearned Revenuee. Dividendsf. Notes Receivableg. Interest Payableh. Sales Revenuei. Cost of Sales

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 2EB: Consider the following accounts and determine if the account is an asset (A), a liability (L), or...

See similar textbooks

Similar questions

Which of the following accounts is increased by a debit? A. Common Stock B. Accounts Payable C. Supplies D. Service Revenue
What is the impact on the accounting equation when an accounts receivable is collected? A. both sides increase B. both sides decrease C. only the Asset side changes D. the total of neither side changes
Which set of accounts has the same type of normal balance? A. Cash, accounts payable B. Prepaid rent, unearned service revenue C. Dividends, common stock D. Accounts payable, retained earnings
Consider the following accounts, and determine if the account is an asset (A), a liability (L), or equity (E). A. Accounts Payable B. Cash C. Dividends D. Notes Payable
List the classification of each of the following accounts as A (asset), L (liability), OE (owners equity), R (revenue), or E (expense). Write Debit or Credit to indicate the increase side, the decrease side, and the normal balance side.
Consider the following accounts and determine if the account is an asset (A), a liability (L), or equity (E). A. Accounts Receivable B. Sales Revenue C. Land D. Unearned Revenue
Identify whether each of the following transactions, which are related to revenue recognition, are accrual, deferral, or neither. A. earn now, collect now B. earn now, collect later C. earn later, collect now
Identify the financial statement on which each of the following account categories would appear: the balance sheet (BS), the income statement (IS), or the retained earnings statement (RE). Indicate the normal balance (Dr for debit; Cr for credit) for each account category. Table 3.16
NORMAL BALANCE OF ACCOUNT Indicate the normal balance (debit or credit) for each of the following accounts: 1. Cash 2. Rent Expense 3. Notes Payable 4. Owners Drawing 5. Accounts Receivable 6. Owners Capital 7. Tools
The Effect of Transactions on the Accounting Equation For each of the following transactions, indicate whether it increases (I), decreases (D), or has no effect (NE) on the total dollar amount of each of the elements of the accounting equation.
For the following accounts indicate whether the normal balance is a debit or a credit. A. Unearned Revenue B. Interest Expense C. Rent Expense D. Rent Revenue E. Accounts Payable F. Cash G. Supplies H. Accounts Payable I. Equipment J. Utilities Expense
Classification of Financial Statement Items Classify each of the following items according to (1) whether it belongs on the income statement (IS) or balance sheet (BS) and (2) whether it is a revenue (R), expense (E), asset (A), liability (L), or stockholders equity (SE) item.