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Tutorial   18346

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, (2) identify the normal balance of the...

Question:

For each of the following (1) identify the type of account as an asset, liability, 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 Account      Increase Balance(Dr. or Cr.)

a.              Fees Earned       

 b.             Equipment          

 c.              Notes Payable   

 d.             Owner Capital   

 e.             Cash      

 f.              Legal Expense   

 g.             Prepaid Insurance           

 h.             Land      

 i.               Accounts Receivable      

 j.              Owner Withdrawals        

 k.             License Fee Revenue     

 l.               Unearned Revenue