Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. for each of the following accounts, identify what

For each of the following accounts, identify what type of account it is and state...

60.1K

Verified Solution

Question

Accounting

For each of the following accounts, identify what type of account it is and state what its normal balance would be. Use the following for account type (Asset, Liability, Shareholders' equity, Revenue, Expense, and Dividends declared). If the account is a contra account, put a "Contra" in front of the account type. 1. 2. 3. 4. 5. 6. 7. 8. 9. 10. Common shares Dividends declared Cost of goods sold Retained earnings Accumulated depreciation, equipment Rent expense Unearned revenue Prepaid insurance Land Dividends payable eTextbook and Media Type of Account > > > > > Normal Balance
image
For each of the following accounts, identify what type of account it is and state what its normal balance would be. Use the following for account type (Asset, Liability, Shareholders' equity, Revenue, Expense, and Dividends declared). If the account is a contra account, put a "Contra" in front of the account type

Answer & Explanation Solved by verified expert
Get Answers to Unlimited Questions

Join us to gain access to millions of questions and expert answers. Enjoy exclusive benefits tailored just for you!

Membership Benefits:
  • Unlimited Question Access with detailed Answers
  • Zin AI - 3 Million Words
  • 10 Dall-E 3 Images
  • 20 Plot Generations
  • Conversation with Dialogue Memory
  • No Ads, Ever!
  • Access to Our Best AI Platform: Flex AI - Your personal assistant for all your inquiries!
Become a Member

Other questions asked by students