For Each of the Following Accounts, (1) Identify the Account

question 9

Essay

For each of the following accounts, (1) identify the account as an asset, liability, equity, revenue, or expense, and (2) indicate the normal balance of the account.




$\begin{array}{|l|l|l|}\hline\text { Account Title } & \text { Account Type } & \begin{array}{l}\text { Normal Balance } \\\text { (Debit or Credit) }\end{array} \\\hline \text { a. Prepaid Insurance } \\\hline \text { b. Accounts Payable } \\\hline \text { c. Common Stock } \\\hline \text { d. Utilities Expense } \\\hline \text { e. Land } \\\hline \text {f. Services Revenue } \\\hline \text {g. Notes Receivable } \\\hline \text {h. Advertising Expense } \\\hline \text {i. Snearned Revenue } \\\hline \text {j. Service Revenue }\\\hline\end{array}$

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Definitions:

Chemicals

Substances with a distinct molecular composition that are produced by or used in a chemical process.

Myelin Sheath

A fatty layer that envelops axons of some neurons, enhancing the speed at which nerve impulses are conducted.

Neuron

A nerve cell that is the basic building block of the nervous system, responsible for receiving, processing, and transmitting information through chemical and electrical signals.

Transmit Information

The process of conveying data, messages, or signals from one person, device, or place to another.