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Selected Accounts for Moonbills Corporation Appear Below

Question 50

Essay

Selected accounts for Moonbills Corporation appear below.
Instructions-For each account,indicate the following:
(A)In the first column at the right,indicate the nature of each account,using the following abbreviations:
Asset-A,Liability-L,Shareholders' Equity-SE.
(B)In the second column,indicate the normal balance by inserting dr or cr.
 (A)  (B)  Type of  Normal  Account  Balance  1. Supplies ________ 2.Notes Payable ________ 3.Unearned Revenue ________ 4.Equipment ________ 5.Accounts Payable ________ 6.Accounts Receivable ________ 7.Contributed Capital ________ 8.Cash ________ 9.Retained Earnings ________ 10.Land ________\begin{array}{lcc}&\text { (A) } & \text { (B) } \\&\text { Type of } & \text { Normal } \\&\text { Account } & \text { Balance }\\\text { 1. Supplies } &\_\_\_\_&\_\_\_\_\\\text { 2.Notes Payable } &\_\_\_\_&\_\_\_\_\\\text { 3.Unearned Revenue } &\_\_\_\_&\_\_\_\_\\\text { 4.Equipment }&\_\_\_\_&\_\_\_\_\\\text { 5.Accounts Payable }&\_\_\_\_&\_\_\_\_\\\text { 6.Accounts Receivable } &\_\_\_\_&\_\_\_\_\\\text { 7.Contributed Capital }&\_\_\_\_&\_\_\_\_\\\text { 8.Cash }&\_\_\_\_&\_\_\_\_\\\text { 9.Retained Earnings }&\_\_\_\_&\_\_\_\_\\\text { 10.Land }&\_\_\_\_&\_\_\_\_\\\end{array}

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