For Each of the Accounts in the Following Table (1)identify

question 118

Essay

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

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Definitions:

Generate Profits

The process of creating a financial gain for a business, typically through revenue exceeding costs.

Social Media

Websites and applications designed for social networking, content sharing, and community engagement, allowing users to create and share content or participate in social networking.

Discounts

Reductions from the usual cost of goods or services offered to customers, typically to encourage purchases.

Global Brand

A brand that is marketed under the same name in multiple countries.