For each of the following:
(1) identify the type of account as an asset, liability, equity, revenue, or expense; (2) identify the normal balance of the account; and (3) select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance.
Account Type of Account Normal Balance Increase (Dr. or Cr.)
a. Land
b. Cash
c. Legal Expense
d. Accounts Receivable
e. Dividends
g. Notes Payable
h. Common Stock
Answers: 3
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For each of the following:
(1) identify the type of account as an asset, liability, equity, r...
(1) identify the type of account as an asset, liability, equity, r...
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