The Account Titles to Be Responded to Are Provided in No

question 9

Short Answer

The account titles to be responded to are provided in no particular order. Assume that all accounts have normal balances according to whether the account is increased by a debit or increased by a credit.

Required:

In column A, indicate whether a debit will:

1. Increase the account balance, or
2. Decrease the account balance.

In column B, classify each account according to the following scheme. For contra accounts, indicate the classification of the account to which it relates.

1. A current asset in the balance sheet.
2. A noncurrent asset in the balance sheet.
3. A current liability in the balance sheet.
4. A long-term liability in the balance sheet.
5. A permanent equity account in the balance sheet.
6. A revenue account in the income statement.
7. An expense account shown in the income statement.
8. Account does not appear in either the balance sheet or the income statement.


-Short-term notes payable

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Definitions:

Social Facilitation

The tendency for people to perform differently when in the presence of others than when alone, typically showing improvement in task performance.

Chameleon Effect

The chameleon effect refers to the unconscious mimicry of the postures, mannerisms, facial expressions, and other behaviors of one's interaction partners, facilitating social connection.

Role Playing

A technique in therapy and training where individuals assume roles and act them out in a controlled environment to explore behaviors and outcomes.

Philip Zimbardo

A psychologist known for conducting the Stanford prison experiment, which explored the effects of perceived power and authority on behavior.