Several Accounts from the Financial Statements of Robot Technologies Are

question 94

Essay

Several accounts from the financial statements of Robot Technologies are listed below.In the two columns provided for answers,indicate the type of account and the normal account balance.Use the following identification codes for your answers:
?
$$\begin{array} { l l } \text { Type of Account } & \text { Normal Bal ance } \\A = \text { Asset } & \text { DR } = \text { Debit } \\L = \text { Liability } & \text { CR } = \text { Credit } \\\text { SE = Stockhol ders' Equity } & \\R = \text { Revenue } & \\E = \text { Expense } &\end{array}$$ $\begin{array}{lll}& \text {Type of Account } & \text { Normal Balance } &\\ \text {A) Prepaid Expenses } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { B) Cable Television Equipment } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { C) Subscriptions Received in Advance } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { D) Common Stock} &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text {E) Accounts Payable } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text {F) Income Taxes Expense }&\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { G) Interest Income } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { H) Cable Television Franchises } &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\ \text { I) Long-Term Debt} &\underline{\quad\quad\quad}&\underline{\quad\quad\quad}\\\end{array}$

---

Definitions:

Income Tax

A tax levied by governments on individuals or entities' income, affecting earnings from various sources including wages, investments, or profits from business.

Retail Sales Tax

A tax imposed on the sale of goods and services at the retail level.

Payroll Tax

Taxes imposed on employers and employees, calculated as a percentage of the salaries that employers pay their staff.

Tax Shifting

The process by which the economic burden of a tax is passed from one party to another.