3. Identify the type of account, its normal balance and on which financial statement each of the following accounts would appear: Solution Account Asset, Liability or Equity Debit or Credit Financial Statement Income Statement, Statement of retained Normal Balance Earnings, or Balance Sheet Accounts Receivable Common Stock Notes Payable Sales Revenue Office Supplies Unearned Revenue Inventory 8. 6. Equipment Dividends 10 Accounts Payable 1234 uno

Intermediate Accounting: Reporting And Analysis
3rd Edition
ISBN:9781337788281
Author:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Publisher:James M. Wahlen, Jefferson P. Jones, Donald Pagach
Chapter6: Cash And Receivables
Section: Chapter Questions
Problem 13GI
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Question
3
Identify the type of account, its normal balance and on which financial statement each
of the following accounts would appear:
Solution
Account
Asset, Liability or Equity
Debit or Credit
Financial Statement
Income Statement,
Statement of retained
Earnings, or Balance
Sheet
Normal Balance
1
Accounts Receivable
Common Stock
3.
Notes Payable
4
Sales Revenue
Office Supplies
Unearned Revenue
Inventory
Equipment
6.
7.
8.
9.
Dividends
10 Accounts Payable
2
Transcribed Image Text:3 Identify the type of account, its normal balance and on which financial statement each of the following accounts would appear: Solution Account Asset, Liability or Equity Debit or Credit Financial Statement Income Statement, Statement of retained Earnings, or Balance Sheet Normal Balance 1 Accounts Receivable Common Stock 3. Notes Payable 4 Sales Revenue Office Supplies Unearned Revenue Inventory Equipment 6. 7. 8. 9. Dividends 10 Accounts Payable 2
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