FINANCIAL ACCOUNTING
10th Edition
ISBN: 9781259964947
Author: Libby
Publisher: MCG
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Question
For each transaction, indicate whether each account would be classified in the
Account Classifications | Accounts | Related Transactions |
1. _________ | Rent expense | Cost of rent. |
2. __________ | Interest revenue | Interest earned on savings account. |
3. __________ | Dividends | Cash payments to stockholders. |
4. __________ | Land | Land used for operations. |
5. ___________ | Accounts payable | Amounts owed to suppliers. |
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- "Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders’ equity, revenue, or expense, and state in each case whether the normal balance is a debit or a credit:A.Accounts PayableB.Accounts ReceivableC.CashD.Common StockE.DividendsF.Fees EarnedG.Office EquipmentH.Rent ExpenseI.SuppliesJ.Wages Expensearrow_forwardFor each account, identify whether the normal balance is a debit or credit a.Notes Payable b.Dividends c.Service Revenue How do i figure this out?arrow_forwardIn a T-account credits appear Group of answer choices A. on the left under assets but on the right under liabilities and stockholders’ equity. B. an the right under assets but on the left under liabilities and stockholders’ equity. C. always on the right. D. always on the left.arrow_forward
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