Logo
Home Study Material Contact Search
AI Chat FREE
  1. business
  2. accounting
  3. indicate whether a debit or credit decreases the n

Indicate whether a debit or credit decreases the normal balance of each of the following...

50.1K

Verified Solution

Question

Accounting

imageimage

Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Decrease Normal Balance a. Dividends Credit b. Office Supplies Credit C. Commission Revenue Debit d. Salaries Expense Credit e. Factory Credit f. Fuel Expense Credit g. Rent Expense Credit h. Rent Payable Credit i. Furniture Credit j. Land Credit k. Equipment Credit I. Common Stock Debit Classify each of the following accounts as an asset (A), liability (L), or equity (EQ) account. a. A C. L A Taxes Payable b. Supplies Interest Payable d. Accounts Receivable e. Prepaid Rent f. Dividends g. Property h. Common Stock A EQ A EQ i. Plant

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