Business, 24.06.2020 22:01 angelaguero536
For each of the following:
1. Identify the type of account as an asset, liability, equity, revenue, or expense.
2. Identify the normal balance of the account.
3. Select debit (Dr.) or credit (Cr.) to identify the kind of entry that would increase the account balance. Account Type of Account Normal Balance Increase (Dr. or Cr.)
a. Cash
b. Legal Expense
c. Prepaid Insurance
d. Land
e. Accounts Receivable
f. Dividends
g. License Fee Revenue
h. Unearned Revenue
i. Fees Earned
j Equipment
k Notes Payable
l. Common Stock
Answers: 2
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At december 31, 2016, pina corporation had the following stock outstanding. 10% cumulative preferred stock, $100 par, 107,810 shares $10,781,000 common stock, $5 par, 4,026,000 shares 20,130,000 during 2017, pina did not issue any additional common stock. the following also occurred during 2017. income from continuing operations before taxes $21,950,000 discontinued operations (loss before taxes) $3,505,000 preferred dividends declared $1,078,100 common dividends declared $2,300,000 effective tax rate 35 % compute earnings per share data as it should appear in the 2017 income statement of pina corporation
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For each of the following:
1. Identify the type of account as an asset, liability, equity, revenue,...
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