Explore BrainMass

Explore BrainMass

    Debits and credits plus normal balance for accounts

    Not what you're looking for? Search our solutions OR ask your own Custom question.

    This content was COPIED from BrainMass.com - View the original, and get the already-completed solution here!

    BE2-1 For each of the following accounts indicate (a) the effect of a debit or a credit on the
    account and (b) the normal balance.

    1. Accounts Payable.
    2. Advertising Expense.
    3. Service Revenue.
    4. Accounts Receivable.
    5. Common Stock.
    6. Dividends.

    © BrainMass Inc. brainmass.com March 4, 2021, 8:02 pm ad1c9bdddf
    https://brainmass.com/business/accounting/debits-credits-normal-balance-accounts-140445

    Solution Preview

    1. Accounts Payable decreases with a debit; increases with a credit and has a normal credit balance.

    2. Advertising Expense increases with a debit; ...

    Solution Summary

    The solution gives a sentence in explanation of each of the six accounts stating the effect of a debit or a credit on the account and the normal balance of each account.

    $2.49

    ADVERTISEMENT