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Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
Edition 26ISBN: 978-1285743615 Exercise 46
Normal balances of accounts
Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's 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. Ashley Griffin, Capital
d. Ashley Griffin, Drawing
e. Cash
f. Fees Earned
g. Office Equipment
h. Rent Expense
i. Supplies
j. Wages Expense
Identify each of the following accounts of Dispatch Services Co. as asset, liability, owner's 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. Ashley Griffin, Capital
d. Ashley Griffin, Drawing
e. Cash
f. Fees Earned
g. Office Equipment
h. Rent Expense
i. Supplies
j. Wages Expense
Explanation
Verified
Verified
The nature of the account defines whethe...
Accounting 26th Edition by Carl Warren,James Reeve,Jonathan Duchac
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