June 17 Cash 10,000 Event Revenue 10,000 June 18 Catering expense 2,500 Cash 2,500 June 18 Event expense 1,000 Cash 1,000 June 19 expense 2,000 Cash 2,000 June 24 Accounts Payable 4,000 Cash 4,000 June 25 Cash 5,000 Room Rental Revenue 5,000 June 30 Salaries expense 2,000 Cash 2,000 June 30 Dividends 4,000 Cash 4,000 Blooms: Apply AACSB: Analytic AICPA BB: Industry AICPA FN: Measurement Difficulty: 3 Hard Learning Objective: 02-P1 Journalizing and Posting Transactions 213. For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account. Account Title Account Type Normal Balance or Credit) a. Prepaid Insurance b. Accounts Payable c. Common d. Utilities expense e. Land f. Services revenue g. Notes Receivable h. Advertising expense i. Unearned Revenue j. Service Revenue
June 17 Cash 10,000 Event Revenue 10,000 June 18 Catering expense 2,500 Cash 2,500 June 18 Event expense 1,000 Cash 1,000 June 19 expense 2,000 Cash 2,000 June 24 Accounts Payable 4,000 Cash 4,000 June 25 Cash 5,000 Room Rental Revenue 5,000 June 30 Salaries expense 2,000 Cash 2,000 June 30 Dividends 4,000 Cash 4,000 Blooms: Apply AACSB: Analytic AICPA BB: Industry AICPA FN: Measurement Difficulty: 3 Hard Learning Objective: 02-P1 Journalizing and Posting Transactions 213. For each of the following (1) identify the type of account as an asset, liability, equity, revenue, or expense, and (2) identify the normal balance of the account. Account Title Account Type Normal Balance or Credit) a. Prepaid Insurance b. Accounts Payable c. Common d. Utilities expense e. Land f. Services revenue g. Notes Receivable h. Advertising expense i. Unearned Revenue j. Service Revenue
Test-Bank-for-Financial-Accounting-Fundamentals-5th-Edition-by-Wild.docx