Normal Balance Review

Question 1

What is the normal balance of Notes Payable?

Answer 1

Credit (liability)

Question 2

What increases a Revenue account? (DR or CR)

Answer 2

Credit (CR)

Question 3

What is the normal balance of Office Supply Expense?

Answer 3

Debit (expense)

Question 4

What is the normal balance of a Dividend account?

Answer 4

Debit

Question 5

What is the normal balance of Retained Earnings?

Answer 5

Credit

Question 6

What increases an Expense account? (DR or CR)

Answer 6

Debit (DR)

Question 7

What is the normal balance of Land?

Answer 7

Debit (asset)

Question 8

What is the normal balance of Patent?

Answer 8

Debit (asset)

Question 9

What increases an Asset account? (DR or CR)

Answer 9

Debit (DR)

Question 10

What is the normal balance of Cash?

Answer 10

Debit (asset)

Question 11

What is the normal balance of Accumulated Depreciation?

Answer 11

Credit (contra asset)

Question 13

What is the normal balance of Sales Revenue?

Answer 13

Credit (revenue)

Question 15

What is the normal balance of Accounts Receivable?

Answer 15

Debit (asset)

Question 16

What is the normal balance of a Common Stock account?

Answer 16

Credit

Question 17

What is the normal balance of Accounts Payable?

Answer 17

Credit (liability)

Question 18

What decreases an Asset account? (DR or CR)

Answer 18

Credit (CR)

Question 19

What decreases a Common Stock account? (DR or CR)

Answer 19

Debit (DR)

Question 21

What is the normal balance of Interest Payable?

Answer 21

Credit (liability)

Question 22

What increases a Contra Asset account? (DR or CR)

Answer 22

Credit (CR)

Question 22

What is the normal balance of a Liability account?

Answer 22

Credit

Question 23

What is the normal balance of Salary Payable?

Answer 23

Credit (liability)

Question 24

What increases a Common Stock account? (DR or CR)

Answer 24

Credit (CR)

Question 24

What is the normal balance of an Expense account?

Answer 24

Debit

Question 25

What is the normal balance of Prepaid Rent?

Answer 25

Debit (asset)

Question 26

What is the normal balance of Service Revenue?

Answer 26

Credit (revenue)

Question 28

What decreases a Contra Asset account? (DR or CR)

Answer 28

Debit (DR)

Question 29

What is the normal balance of Interest Expense?

Answer 29

Debit (expense)

Question 30

What increases a Liability account? (DR or CR)

Answer 30

Credit (CR)

Question 30

What is the normal balance of Copyright?

Answer 30

Debit (asset)

Question 31

What is the normal balance of a Contra Asset account?

Answer 31

Credit

Question 32

What is the normal balance of Supply Expense?

Answer 32

Debit (expense)

Question 33

What is the normal balance of Equipment?

Answer 33

Debit (asset)

Question 34

What decreases a Liability account? (DR or CR)

Answer 34

Debit (DR)

Question 38

What is the normal balance of Depreciation Expense?

Answer 38

Debit (expense)

Question 39

What is the normal balance of Unearned Revenue?

Answer 39

Credit (liability)

Question 40

What is the normal balance of Office Supplies?

Answer 40

Debit (asset)

Question 41

What is the normal balance of Building?

Answer 41

Debit (asset)

Question 42

What is the normal balance of Prepaid Insurance?

Answer 42

Debit (asset)

Question 43

What is the normal balance of Supplies?

Answer 43

Debit (asset)

Question 44

What is the normal balance of Utility Expense?

Answer 44

Debit (expense)

Question 45

What is the normal balance of Insurance Expense?

Answer 45

Debit (expense)

Question 46

What is the normal balance of Notes Receivable?

Answer 46

Debit (asset)

Question 47

What increases a Dividend account? (DR or CR)

Answer 47

Debit (DR)

Question 47

What is the normal balance of an Asset account?

Answer 47

Debit

Question 47

What is the normal balance of a Revenue account?

Answer 47

Credit

Question 47

What is the normal balance of Salary Expense?

Answer 47

Debit (expense)

Question 47

What is the normal balance of Advertising Expense?

Answer 47

Debit (expense)