Several Accounts from the Financial Statements of Hotlanta Promotions,Inc

question 129

Essay

Several accounts from the financial statements of Hotlanta Promotions,Inc.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:
$\begin{array}{ll}\underline {\text { Type of Accoint }}& \underline {\text { Norinal Balanice }} \\\mathrm{A}=\text { Asset } & \mathrm{Dr}=\mathrm{Debit}\\\mathrm{L}=\text { Liability } & \mathrm{Cr}=\text { Credit } \\\mathrm{SE}=\text { Stockholders Equity } \\\mathrm{R}=\text { Reverme } \\\mathrm{E}=\text { Expense } \\\end{array}$ $\begin{array}{|l|l|l|l|}\hline && \text { Type of } & \text { Normal } \\\hline && \text {Account } & \text { Bahnice } \\\hline \text { A) } & \text { Prepaid Rent } \\\hline \text { B) } & \text { Television Equipment } \\\hline \text { C) } & \text { Unearned Revenue } \\\hline \text { D) } & \text { Service Revenue } \\\hline \text { E) } & \text { Common Stock } \\\hline \text { F) } & \text { Accounts Payable } \\\hline \text { F) } & \text { Income Tax Expense } \\\hline \text { H) } & \text { Interest Income } \\\hline \text { I) } & \text { Salary Expense } \\\hline \text { J) } & \text { Notes Payable } \\\hline\end{array}$

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Definitions:

Feedback

Information provided as a response to a process or activity, used to support improvement and guide future actions.

Mistakes

Errors or faults in action, decision, or judgment that can lead to unforeseen outcomes or learning opportunities.

Internal Control

A process implemented by a company to ensure the integrity of financial and accounting information, promote accountability, and prevent fraud.

Self-Discipline

The ability to control one's feelings, impulses, and actions, focusing on achieving long-term goals rather than giving in to immediate desires.