Textbook Problem

Normal balances of accounts

Identify each of the following accounts of Liken Services Co. as asset, liability, stockholders equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:

a. Accounts Payable

b. Accounts Receivable

c. Cash

d. Common Stock

e. Dividends

f. Fees Earned

g. Land

h. Rent Expense

i. Supplies

j. Utilities Expense