Label as asset, liability, or equity; State normal balance (D or C) Flashcards
1
Q
Cash
A
Asset D
2
Q
Dividends
A
Equity D
3
Q
Accounts payable
A
Liability C
4
Q
Accounts receivable
A
Asset D
5
Q
Unearned consulting revenue
A
Liability C
6
Q
Utilities expense
A
Equity D
7
Q
Supplies
A
Asset D
8
Q
Common Stock
A
Equity C
9
Q
Rental revenue
A
Equity C
10
Q
Equipment
A
Asset D
11
Q
Prepaid insurance
A
Asset D
12
Q
Consulting revenue
A
Equity C
13
Q
Rent expense
A
Equity D
