Accounting Classification of Accounts Questions and Graded
Answers.
Accounts Payable - Current Liability
Normal Balance: Credit
Balance Sheet
Accounts Recievable - Current Asset
Normal Balance: Debit
Balance Sheet
Accumulated Depreciation - Property, Plant, and Equipment
Normal Balance: Credit
Balance Sheet
Additional Paid-In-Capital - Stockholder's Equity
Normal Balance: Credit
Balance Sheet
Advertising Expense - Operating Expense
Normal Balance: Debit
Income Statement
Allowance For Bad Debts - Current Asset
Normal Balance: Credit
Balance Sheet
, Bad Debt Expense - Operating Expense
Normal Balance: Debit
Income Statement
Bonds Payable - Long-Term Liability
Normal Balance: Credit
Balance Sheet
Building - Property, Plant, and Equipment
Normal Balance: Debit
Balance Sheet
Common Stock - Stockholder's Equity
Normal Balance: Credit
Balance Sheet
Cash - Current Asset
Normal Balance: Debit
Balance Sheet
Cost of Goods Sold - Expense
Normal Balance: Debit
Income Statement
Deferred Income Taxes Payable - Long-Term Liability
Normal Balance: Credit
Answers.
Accounts Payable - Current Liability
Normal Balance: Credit
Balance Sheet
Accounts Recievable - Current Asset
Normal Balance: Debit
Balance Sheet
Accumulated Depreciation - Property, Plant, and Equipment
Normal Balance: Credit
Balance Sheet
Additional Paid-In-Capital - Stockholder's Equity
Normal Balance: Credit
Balance Sheet
Advertising Expense - Operating Expense
Normal Balance: Debit
Income Statement
Allowance For Bad Debts - Current Asset
Normal Balance: Credit
Balance Sheet
, Bad Debt Expense - Operating Expense
Normal Balance: Debit
Income Statement
Bonds Payable - Long-Term Liability
Normal Balance: Credit
Balance Sheet
Building - Property, Plant, and Equipment
Normal Balance: Debit
Balance Sheet
Common Stock - Stockholder's Equity
Normal Balance: Credit
Balance Sheet
Cash - Current Asset
Normal Balance: Debit
Balance Sheet
Cost of Goods Sold - Expense
Normal Balance: Debit
Income Statement
Deferred Income Taxes Payable - Long-Term Liability
Normal Balance: Credit
