For Each of the Following (1) Identify the Type of Account

question 174

Essay

For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account. $\begin{array}{|l|l|cc|} \hline \text { Account Title } & \text { Account Type } & \text { Normal Balance } \\ &&\text { Debit or Credit) }\\ \hline \text { a. Prepaid Insurance} & \text { } & \text { }\\\hline \text { b. Accounts Payable } & \text { } & \text { }\\ \hline\text { c. Common Stock } & \text { } & \text { }\\\hline \text {d. Utilities expense } & \text { } & \text { }\\\hline \text { e. Land} & \text { } & \text { }\\ \hline\text { f. Services revenue } & \text { } & \text { }\\\hline \text { g. Notes Receivable} & \text { } & \text { }\\\hline \text { h. Advertising expense} & \text { } & \text { }\\ \hline\text { i. Unearned Revenue } & \text { } & \text { }\\\hline \text { i. Service Revenue } & \text { } & \text { }\\\hline\end{array}$

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Definitions:

Follower Readiness

The degree to which followers are willing, able, and prepared to take on responsibilities, follow directions, or engage in activities directed by a leader.

Leader Position Power

The power and sway possessed by a leader due to their designated function or status in a group or establishment.

Task Structure

The extent to which job roles are specifically defined, clear, and organized.

Participative Leadership

A leadership style where the leader involves team members in decision-making processes and problem-solving to enhance involvement and commitment.