Selected Accounts from the Ledger of Thomas Company Appear Below

question 142

Essay

Selected accounts from the ledger of Thomas Company appear below. For each account, indicate the following:

a. In the first column at right, indicate the type of each account using the following abbreviations:
Asset - A	Revenue - R	None of the above - N
Liability - L	Expense - E

b. In the second column, indicate the normal balance of the account by inserting a Dr. or Cr.
Account	Type of Account	Normal Balance
1. Office Supplies	________	________
2. Accounts Receivable	________	________
3. Fees Earned	________	________
4. Thomas, Withdrawals	________	________
5. Accounts Payable	________	________
6. Salaries Expense	________	________
7. Thomas, Capital	________	________
8. Accounts Receivable	________	________
9. Equipment	________	________
10. Telephone Expense	________	________

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Definitions:

Crisis Recovery Stage

The phase in crisis management where an organization works to restore stability, rebuild reputation, and implement changes to prevent future crises.

Social Responsibility

The idea that businesses and individuals should act ethically and contribute positively to the welfare of society.

Benoit's Theory

A communication theory by William L. Benoit focusing on image repair discourse, outlining strategies individuals or organizations use to mitigate damage to their reputation.

Crisis

A significant and unexpected event that threatens an organization's operations, reputation, or stakeholders, requiring immediate response.