Question

Identify each of the following accounts of Kaiser Services Co. as asset, liability, stockholders' equity , revenue, or expense, and state in each was whether the normal balance is a debit or a credit.

a. Accounts Payable

b. Accounts Recievable

c. Cash

d. Common Stock

e. Dividends

f. Fees Earned

g. Office Equipment

h. Rent Expense

i. Supplies

j. Wages Expense

Answer 1

Answer:

a. Accounts Payable (CR), b. Accounts Recievable  (DR), c. Cash (DR), d. Common Stock  (CR), e. Dividends ( If it is earned -CR while if it paid- DR), f. Fees Earned (CR), g. Office Equipment ( DR), h. Rent Expense (DR), i. Supplies ( DR), j. Wages Expense (DR)

Explanation: