Exercise 2-4 (15 minutes) Type of Normal Increase Account Account Balance (Dr. or Cr.) a. Land asset debit debit b. Cash asset debit debit c. Legal expense debit debit Expense d. Prepaid asset debit debit Insurance e. Accounts asset debit debit Receivable f. Dividends equity debit debit g. License Fee revenue credit credit Revenue h. Unearned Revenue liability credit credit i. Fees revenue credit credit Earned j. Equipment asset debit debit k. Notes liability credit credit Payable l. Common equity credit credit Stock Exercise 2-5 (15 minutes) a. Analyze: Assets = Liabilities + Equity Cash Note Payable Revenue Equipment
Exercise 2-4 (15 minutes) Type of Normal Increase Account Account Balance (Dr. or Cr.) a. Land asset debit debit b. Cash asset debit debit c. Legal Expense expense debit debit d. Prepaid Insurance asset debit debit e. Accounts Receivable asset debit debit f. Dividends equity debit debit g. License Fee Revenue revenue credit credit h. Unearned Revenue liability credit credit i. Fees Earned revenue credit credit j. Equipment asset debit debit k. Notes Payable liability credit credit l. Common Stock equity credit credit Exercise 2-5 (15 minutes) a. Analyze: Assets = Liabilities + Equity Cash Equipment Note Payable Revenue
Wild_FA9e_SM_Ch02%20Exercises%20Only.docx