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

question 52

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.
$$\begin{array} { | l | l | l | } \hline & \text { Account Type } & \text { Normal Balance } \\\hline \text { a. Wages Expense } & & \\\hline \text { b. Accounts Receivable } & & \\\hline \text { c. CommissionsEarned } & & \\\hline \text { d. Salaries Payable } & & \\\hline \text { f. Common Stock } & & \\\hline \text { g. Salaries Expense } & & \\\hline \text { h. Magazine Subscription Revenue } & & \\\hline \text { Dividends } & & \\\hline\end{array}$$

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Definitions:

Annual Payment

A payment made once a year for a particular commitment or service.

Accumulated Capital

The total value of all capital assets owned by an entity after depreciation and amortization.

Periodic Payment

A repeated payment made at regular intervals, such as monthly or annually.

Ordinary Annuity

An annuity in which payments are made at the end of each period, such as yearly, monthly, or quarterly.