Instruction: The following accounts were taken from an adjusted trial balance. Indicate in what column the account should be extended by checking the appropriate column. Income Statement Debit Balance Sheet Debit Adjusted Trial Balance Credit Credit 1. Cash on Hand 2. Cash in Bank 3. Accounts Receivable 4. Notes Receivable 5. Office Equipment 6. Furniture and Fixture 7. Accounts Payable 8. SSS and PhilHealth Payable 9. Withholding Tax Payable 10. Belen, Capital 11. Belen, Drawings 12. Service Income 13. Rent Expense 14. Taxes and Licenses 15. Supplies Expense 16. Repairs Expense 17. Salary Expense 18. Prepaid Rent 19. Bad Debts 20. Allowance for Bad Debts 21. Depreciation Expense 22. Accumulated Depreciation 23. Interest Receivable 24. Interest Income 25. Accrued Salaries Expense

Instruction: The following accounts were taken from an adjusted trial balance. Indicate in what column the account should be extended by checking the appropriate column. Income Statement Debit Balance Sheet Debit Adjusted Trial Balance Credit Credit 1. Cash on Hand 2. Cash in Bank 3. Accounts Receivable 4. Notes Receivable 5. Office Equipment 6. Furniture and Fixture 7. Accounts Payable 8. SSS and PhilHealth Payable 9. Withholding Tax Payable 10. Belen, Capital 11. Belen, Drawings 12. Service Income 13. Rent Expense 14. Taxes and Licenses 15. Supplies Expense 16. Repairs Expense 17. Salary Expense 18. Prepaid Rent 19. Bad Debts 20. Allowance for Bad Debts 21. Depreciation Expense 22. Accumulated Depreciation 23. Interest Receivable 24. Interest Income 25. Accrued Salaries Expense

Principles of Accounting Volume 1

19th Edition

ISBN:9781947172685

Author:OpenStax

Publisher:OpenStax

Chapter3: Analyzing And Recording Transactions

Section: Chapter Questions

Problem 8EA: For the following accounts please indicate whether the normal balance is a debit or a credit. A....

See similar textbooks

Similar questions

Indicate on which financial statement the following accounts (from the adjusted trial balance) would appear: (A) Sales Revenue; (B) Unearned Rent Revenue; (C) Prepaid Advertising; (D) Advertising Expense; (E) Dividends; (F) Cash.
Indicate whether each account that follows has a normal debit or credit balance. A. Unearned Revenue B. Office Machines C. Prepaid Rent D. Cash E. Legal Fees Earned F. Salaries Payable G. Dividends H. Accounts Receivable I. Advertising Expense J. Retained Earning
From the following list, identify which items are considered original sources: A. accounts receivable B. receipt from post office for post office box C. purchase order D. general ledger E. adjusted trial balance F. statement of retained earnings G. electric bill H. packing slip I. company expense account J. statement of cash flows
State whether the balance in each of the following accounts increases with a debit or a credit. A. Office Supplies B. Retained Earnings C. Salaries Expense D. Accounts Receivable E. Service Revenue
For the following accounts please indicate whether the normal balance is a debit or a credit. A. Sales B. Dividends C. Office Supplies D. Retained Earnings E. Accounts Receivable F. Prepaid Rent G. Prepaid Insurance H. Wages Payable I. Building J. Wages Expense
From the following list, identify which items are considered original sources: A. prepaid insurance B. bank statement C. sales ticket D. general journal E. trial balance F. balance sheet G. telephone bill H. invoice from supplier I. company sales account J. income statement
Indicate whether each of the following accounts has a normal debit or credit balance. A. prepaid landscaping expense B. common stock C. delivery vans D. maintenance expense E. retained earnings F. office supplies G. revenue earned H. accounts payable I. unearned painting revenue J. interest payable
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
For each of the following transactions, state which special journal (Sales Journal, Cash Receipts Journal, Cash Disbursements Journal, Purchases Journal, or General Journal) and which subsidiary ledger (Accounts Receivable, Accounts Payable, neither) would be used in recording the transaction. A. Sold inventory for cash B. Issued common stock for cash C. Received and paid utility bill D. Bought office equipment on account E. Accrued interest on a loan at the end of the accounting period F. Paid a loan payment G. Bought inventory on account H. Paid employees I. Sold inventory on account J. Paid monthly insurance bill
Prepare an adjusted trial balance from the adjusted account balances; solve for the one missing account balance: Cash (assume accounts have normal balances).
Which of the following pairs of accounts are impacted the same with debits and credits? A. Cash and Unearned Service Revenue B. Electricity Expense and Office Supplies C. Accounts Receivable and Accounts Payable D. Buildings and Common Stock
Brief Exercise 2-31 Debit and Credit Procedures Refer to the accounts listed below. Accounts Receivable Accounts Payable Cash Equipment Notes Payable Rent Expense Salaries Expense Service Revenue Required: For each of the accounts, indicate the normal balance of the account and the effect of a debit or a credit on the account.