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

question 143

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. $$\begin{array} { | l | l | l | } \hline & \text { Account Type } & \text { Normal Balance } \\\hline \text { a. Wages Experse } & & \\\hline \text { b. Accounts Receivable } & & \\\hline \text { c. Commissions Eamed } & & \\\hline \text { d. Salaries Payable } & & \\\hline \text { e. Common Stock } & & \\\hline \text { f. Unearned Advertising Revenue } & & \\\hline \text { E. Salaries Expense } & & \\\hline \text { H. Magazine Subscription Revenue } & & \\\hline \text { i. Dividends } & & \\\hline \text { j. Prepaid Insurance } & & \\\hline\end{array}$$

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Definitions:

Effective Rate

The actual interest rate an investor receives after the effects of compounding interest are taken into account.

Compounding Interval

The period of time at the end of which interest is added to the principal balance of an investment or loan.

Interest

The charge for borrowing money or the return on invested capital, generally expressed as a percentage rate.

Furniture

Movable objects intended to support various human activities such as seating, eating, and sleeping, as well as to hold objects or store items.