i. Fees Earned j. Equipment k. Notes Payable I. Owner, Capital a. Land e. Accounts Receivable 1. Owner, Withdrawals g. License Fee Revenue b. Cash c. Legal Expense d. Prepaid Insurance h. Unearned Revenue
i. Fees Earned j. Equipment k. Notes Payable I. Owner, Capital a. Land e. Accounts Receivable 1. Owner, Withdrawals g. License Fee Revenue b. Cash c. Legal Expense d. Prepaid Insurance h. Unearned Revenue
Cornerstones of Financial Accounting
4th Edition
ISBN:9781337690881
Author:Jay Rich, Jeff Jones
Publisher:Jay Rich, Jeff Jones
Chapter2: The Accounting Information System
Section: Chapter Questions
Problem 17DQ
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Topic Video
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.
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