Question

or each of the following accounts, indicate the effect of a debit or credit on the account and the normal balance. Debit Effect Credit Effect Normal Balance
a. Bonds Payable. select between increase and decrease select between increase and decrease select between credit and debit
b. Unearned Service Revenue. select between increase and decrease select between increase and decrease select between credit and debit
c. Depreciation Expense. select between increase and decrease select between increase and decrease select between credit and debit
d. Common Stock. select between increase and decrease select between increase and decrease select between credit and debit e. Buildings. select between increase and decrease select between increase and decrease select between credit and debit f. Rent Revenue.

Answer 1

Answer:

a) bonds payable

normal balance: credit debit decrease credit increase

b) unearned service revenue

normal balance: debit increase credit decrease

c) depreiciation expense

normal balance: debit increase credit decrease

d) common stock

normal balance: credit debit decrease credit increase

e) building

normal balance: debit increase credit decrease

f) rent revenue

normal balance: credit debit decrease credit increase

Explanation:

The reasons are in the acounting equation

assets = laibilities + Equity + revenues - expenses

the left side increase form debit

and the right side from credit

From there, we can conclude each account:

A) B) Are laibilities, obligation to the company an so, follow  the rules for liabilities.

C) expenses they decrease equity, so they increase from debit and increase from

D) equity is on the left side

E) assets are the company's possesions. Increase from debit and decrease from credit

F) revenue increase equity so it beheaves like it.

Answer 2

The debit balance is shown in the balance sheet on the assets side that shows the owing property of the company and the credit balance is shown as a decrease in the assets side of the balance sheet.

a) bonds payable

normal balance: credit debit decrease, credit increase

b) unearned service revenue

normal balance: debit increase, credit decrease

c) depreciation expense

normal balance: debit increase, credit decrease

d) common stock

normal balance: credit debit decrease, credit increase

e) building

normal balance: debit increase credit decrease

f) rent revenue

normal balance: credit debit decrease credit increase

• The reasons in the accounting equation

assets = laibilities + Equity + revenues - expenses

The left side increase from debit and the right side from the credit

The conclusion for each of the accounts:

A and B are termed as the liabilities as of the obligation to the company.

C) expenses decrease from the equity. And therefore, they increase from debit and increase from credit.  

D) Equity is on the left side.

E) Assets are known as the company's possessions. They Increase from debit and decrease from credit.

F) Revenue increases equity.

To know more about the debit and credit balance, refer to the link below:

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