Solved

For Each of the Following (1) Identify the Type of Account

Question 10

Essay

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account.
 Account Title  Account Type  Normal Balance  (Debit or Credit)  a. Prepaid Insurance  b. Accounts Payable  c. J. Jason, Capital  d. Utilities Expense  e. Land  f. Services Revenue  g. Notes Receivable  h. Advertising Expense \begin{array} { | l | l | l | } \hline \text { Account Title } & \text { Account Type } & \begin{array} { l } \text { Normal Balance } \\\text { (Debit or Credit) }\end{array} \\\hline \text { a. Prepaid Insurance } & & \\\hline \text { b. Accounts Payable } & & \\\hline \text { c. J. Jason, Capital } & & \\\hline \text { d. Utilities Expense } & & \\\hline \text { e. Land } & & \\\hline \text { f. Services Revenue } & & \\\hline \text { g. Notes Receivable } & & \\\hline \text { h. Advertising Expense } & & \\\hline\end{array}
 i. Unearned Revenue  j. Service Revenue \begin{array} { | l | l | l | } \hline \text { i. Unearned Revenue } & \quad\quad&\quad\quad \\\hline \text { j. Service Revenue } & & \\\hline\end{array}

Correct Answer:

verifed

Verified

\[\begin{array} { | l | l | l | }
\hli ...

View Answer

Unlock this answer now
Get Access to more Verified Answers free of charge

Related Questions