Directions: Identify the normal account balance of the following accounts. Writeyour answers on a separate sheet of paper.1. Salaries Expense2. Cash3. Supplies4. Furniture5. Accounts Payable6. Makisig, Drawings7. Building8. Makisig, Capital9. Professional Fees10. Service Revenue11. Accounts ReceivablePlawe b v ch12. Notes Payable13. Land14. Laundry Revenues15. Unearned Service Revenues

Normal Accounting Balance Normal accounting balance which is described as the Debit or credit…

Answered: Directions: Identify the normal account…

Directions: Identify the normal account balance of the following accounts. Wri your answers on a separate sheet of paper. 1. Salaries Expense 2. Cash 3. Supplies

FINANCIAL ACCOUNTING

10th Edition

ISBN:9781259964947

Author:Libby

Publisher:Libby

Chapter1: Financial Statements And Business Decisions

Section: Chapter Questions

Problem 1Q

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Concept explainers

Bookkeeping

Bookkeeping is the process of recording the financial transactions of a company on a regular basis. With the process of bookkeeping, companies can track important financial information that helps management in making crucial decisions.

Question

Directions: Identify the normal account balance of the following accounts. Write
your answers on a separate sheet of paper.
1. Salaries Expense
2. Cash
3. Supplies
4. Furniture
5. Accounts Payable
6. Makisig, Drawings
7. Building
8. Makisig, Capital
9. Professional Fees
10. Service Revenue
11. Accounts Receivable
Plawe b v ch
12. Notes Payable
13. Land
14. Laundry Revenues
15. Unearned Service Revenues

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