Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the...
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Accounting
Exercise 2-4 Identifying type and normal balances of accounts LO C4 For each of the following (1) Identify the type of account as an asset. llability, 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. Type of Account Normal Balance Increase (Dr. or CM) Account a Accounts Receivable b. Dividends c. License Fee Revenue d. Uneamed Revenue c. Fees Earned 1. Equipment g. Notes Payable h. Common Stock Supplies 1 Accounts Payable * Consulting Revenue 1. Salaries Expense
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