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Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159Accounting 26th Edition by Carl Warren ,Jim Reeve ,Jonathan Duchac
Edition 26ISBN: 978-1337498159 Exercise 7
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 ,Jim Reeve ,Jonathan Duchac
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