Question for each of the following1 identify the type of, Ask an Expert

Accounting

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.

a. Fees Earned

b. Equipment

c. Notes Payable

d. Owner Capital

e. Cash

f. Legal Expense

g. Prepaid Insurance

h. Land

i. Accounts Receivable

j. Owner Withdrawals

k. License Fee Revenue

l. Unearned Revenue

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Accounting Basics, Accounting

Category:- Accounting Basics
Reference No.:- M92336820

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