Directions: Complete the table below. The first item has been uoe Increased by Decreased by List of Accounts Classification Normal Balance (Debit (Debit/ (Asset, Liabilities, Owner's Equity Credit) (Debit/ Credit) Credit) „Revenue, Expense) Debit Credit Cash Asset Debit Accounts Receivable 3. Merchandise Inventory 4 Prepaid Insurance Supplies 6. Office Equipment Transportation Equipment 8. Building 6. Land 10 Intangible Assets

Directions: Complete the table below. The first item has been uoe Increased by Decreased by List of Accounts Classification Normal Balance (Debit (Debit/ (Asset, Liabilities, Owner's Equity Credit) (Debit/ Credit) Credit) „Revenue, Expense) Debit Credit Cash Asset Debit Accounts Receivable 3. Merchandise Inventory 4 Prepaid Insurance Supplies 6. Office Equipment Transportation Equipment 8. Building 6. Land 10 Intangible Assets

College Accounting (Book Only): A Career Approach

12th Edition

ISBN:9781305084087

Author:Cathy J. Scott

Publisher:Cathy J. Scott

Chapter2: T Accounts, Debits And Credits, Trial Balance, And Financial Statements

Section: Chapter Questions

Problem 2E: List the classification of each of the following accounts as A (asset), L (liability), OE (owners...

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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.
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