Assignment - Accounting Equation Normal Balances
Basically you gotta drag if it increases or descreases. Those 3 for assets are not right but I dragged them to their so you could see the accounts. Please help with this problem.
Accounting equation (debit or credit)
Assets, liabilities, common stock, retained earnings, revenues, expenses.
Which account goes where to the accounts on top?
Cash - increase
A/R - Decrease
Common stock Increase
Cash- Decrease
Revenue- increase
Inventory increase
Prepaid rent increase
Retained earnings increase
Expenses increase
accounts payable decrease
Supplies increase
Unearned revenue decrease
Notes payable increase