Identify the Normal Balance for Each of the Following Accounts

question 56

Essay

Identify the normal balance for each of the following accounts by placing a Dr. (debit) or a Cr. (credit) in the space provided.
________ 1. Truck
________ 2. B. James, Withdrawals
________ 3. B. James, Capital
________ 4. Accounting Fees Earned
________ 5. Cash
________ 6. Accounts Receivable
________ 7. Accounts Payable
________ 8. Rent Expense
________ 9. Office Equipment
________ 10. Supplies

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Definitions:

Aerobic Respiration

The process of producing cellular energy involving oxygen. It's the way most cells generate ATP, with carbon dioxide and water as byproducts.

Ozone Layer

A protective layer in Earth's stratosphere that absorbs most of the Sun's ultraviolet radiation, shielding the planet from harmful UV light.

Cyanobacteria

A phylum of bacteria that obtain their energy through photosynthesis and are noted for their role in the oxygenation of the Earth's atmosphere.

Organic Polymers

Large molecules composed of repeating carbon-based units, including proteins, nucleic acids, and many synthetic materials.