For Each of the Following Accounts Indicate (A) the Type

question 124

Essay

For each of the following accounts indicate (a) the type of account (Asset, Liability, Shareholders' Equity, Revenue, Expense), (b) the debit and credit effects, and (c) the normal account balance. $$\begin{array} { | l | l | } \hline \text { Example } & \\ \hline \text { 0. Cash } & \text { a. Asset account } \\\hline & \text { b. Debit increases, credit decreases } \\\hline & \text { c. Normal balance - debit } \\\hline\end{array}$$
Accounts:
1. Accounts Payable
2. Accounts Receivable
3. Common shares
4. Dividends
5. Service Revenue
6. Insurance Expense
7. Notes Payable
8. Equipment

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Definitions:

Internal Locus

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