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  1.  
  2. <!DOCTYPE html><html>
  3. <div class="main">
  4. </h2><button class="accordion active"><b>Question:</b></button>
  5.  
  6. <p><br />
  7. For each of the following (1) identify the type of account as an
  8. asset, liability, equity, revenue, or expense, (2) identify the
  9. normal balance of the account, and (3) enter debit (Dr.) or credit
  10. (Cr.) to identify the kind of entry that would increase the account
  11. balance.<br />
  12. Account&nbsp;&nbsp; &nbsp;Type of Account&nbsp;&nbsp; &nbsp;Normal
  13. Balance&nbsp;&nbsp; &nbsp;Increase (Dr. or Cr.)<br />
  14. a.&nbsp;&nbsp; &nbsp;Cash&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  15. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  16. b.&nbsp;&nbsp; &nbsp;Legal Expense&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  17. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  18. c.&nbsp;&nbsp; &nbsp;Prepaid Insurance&nbsp;&nbsp;
  19. &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;<br />
  20. d.&nbsp;&nbsp; &nbsp;Land&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  21. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  22. e.&nbsp;&nbsp; &nbsp;Accounts Receivable&nbsp;&nbsp;
  23. &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;<br />
  24. f.&nbsp;&nbsp; &nbsp;Dividends&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  25. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  26. g.&nbsp;&nbsp; &nbsp;License Fee Revenue&nbsp;&nbsp;
  27. &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;<br />
  28. h.&nbsp;&nbsp; &nbsp;Unearned Revenue&nbsp;&nbsp;
  29. &nbsp;&nbsp;&nbsp; &nbsp;&nbsp;&nbsp; &nbsp;<br />
  30. i.&nbsp;&nbsp; &nbsp;Fees Earned&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  31. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  32. j&nbsp;&nbsp; &nbsp;Equipment&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  33. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  34. k&nbsp;&nbsp; &nbsp;Notes Payable&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  35. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  36. l.&nbsp;&nbsp; &nbsp;Common Stock&nbsp;&nbsp; &nbsp;&nbsp;&nbsp;
  37. &nbsp;&nbsp;&nbsp; &nbsp;<br />
  38. <br /></p>
  39.  
  40. </h2><button class="accordion active"><b>Answer</b></button>
  41. <html>
  42. <head></head>
  43. <body>
  44. <p><u>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) enter debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance:</u></p>
  45. <p><u><img alt="Type of Normal BalanceDebit /
  46. Accountof the Account(Credit)
  47. Debit
  48. Debit
  49. Debit
  50. Debit
  51. Debit
  52. Debit
  53. Credit
  54. Credit
  55. Credit
  56. Debit
  57. Cr" src="https://d2vlcm61l7u1fs.cloudfront.net/media/cd5/cd5dd774-d3ac-4f66-a78a-982687010900/phpcbZbcC.png" style="height:308px;width:764px;"></u></p>
  58. <p>&nbsp;</p>
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