What are the account What are the account classificationsclassifications AssetAsset LiabilityLiability Owner’s EquityOwner’s Equity Revenue Revenue ExpenseExpense

What is the normal What is the normal balancebalance Owner’s EquityOwner’s Equity

– CreditCredit ExpenseExpense

– DebitDebit LiabilityLiability

– CreditCredit AssetAsset

– DebitDebit RevenueRevenue

– CreditCredit

What is the normal What is the normal balancebalance

CapitalCapital– CreditCredit

Utilities ExpenseUtilities Expense– DebitDebit

CashCash– DebitDebit

Accounts Receivable – XYZ. Co.Accounts Receivable – XYZ. Co.– DebitDebit

SuppliesSupplies– DebitDebit

SalesSales– CreditCredit

Accounts Payable – ABC. Co.Accounts Payable – ABC. Co.– CreditCredit

Prepaid InsurancePrepaid Insurance– DebitDebit

DrawingDrawing– DebitDebit

What is the normal balanceWhat is the normal balance Supplies ExpenseSupplies Expense

– DebitDebit Office EquipmentOffice Equipment

– DebitDebit Sales Tax PayableSales Tax Payable

– CreditCredit Advertising Advertising

ExpenseExpense– DebitDebit

Service FeesService Fees– CreditCredit

TruckTruck– DebitDebit

Petty CashPetty Cash– DebitDebit

Prepaid InsurancePrepaid Insurance– DebitDebit

Income SummaryIncome Summary

What is the increase What is the increase sideside

CapitalCapital– CreditCredit

Utilities ExpenseUtilities Expense– DebitDebit

CashCash– DebitDebit

Accounts Receivable – XYZ. Co.Accounts Receivable – XYZ. Co.– DebitDebit

SuppliesSupplies– DebitDebit

SalesSales– CreditCredit

Accounts Payable – ABC. Co.Accounts Payable – ABC. Co.– CreditCredit

Prepaid InsurancePrepaid Insurance– DebitDebit

DrawingDrawing– DebitDebit

What is the increase sideWhat is the increase side Supplies ExpenseSupplies Expense

– DebitDebit Office EquipmentOffice Equipment

– DebitDebit Sales Tax PayableSales Tax Payable

– CreditCredit Advertising ExpenseAdvertising Expense

– DebitDebit Service FeesService Fees

– CreditCredit TruckTruck

– DebitDebit Petty CashPetty Cash

– DebitDebit Prepaid InsurancePrepaid Insurance

– DebitDebit Income SummaryIncome Summary

Permanent or Permanent or Temporary Temporary

CapitalCapital– PERMPERM

Utilities ExpenseUtilities Expense– TEMPTEMP

CashCash– PERMPERM

Accounts Receivable – XYZ. Co.Accounts Receivable – XYZ. Co.– PERMPERM

SuppliesSupplies– PERMPERM

SalesSales– TEMPTEMP

Accounts Payable – ABC. Co.Accounts Payable – ABC. Co.– PERMPERM

Prepaid InsurancePrepaid Insurance– PERMPERM

DrawingDrawing– TEMPTEMP

Permanent or TemporaryPermanent or Temporary Supplies ExpenseSupplies Expense

– TEMPTEMP Office EquipmentOffice Equipment

– PERMPERM Sales Tax PayableSales Tax Payable

– PERMPERM Advertising ExpenseAdvertising Expense

– TEMPTEMP Service FeesService Fees

– TEMPTEMP TruckTruck

– PERMPERM Petty CashPetty Cash

– PERMPERM Prepaid InsurancePrepaid Insurance

– PERMPERM Income SummaryIncome Summary

– TEMPTEMP

Income Statement / Balance Income Statement / Balance sheet sheet

CapitalCapital– BSBS

Utilities ExpenseUtilities Expense– ISIS

CashCash– BSBS

Accounts Receivable – XYZ. Co.Accounts Receivable – XYZ. Co.– BSBS

SuppliesSupplies– BSBS

SalesSales– ISIS

Accounts Payable – ABC. Co.Accounts Payable – ABC. Co.– BSBS

Prepaid InsurancePrepaid Insurance– BSBS

DrawingDrawing– BSBS

Income Statement / Balance Income Statement / Balance sheetsheet Supplies ExpenseSupplies Expense

– ISIS Office EquipmentOffice Equipment

– BSBS Sales Tax PayableSales Tax Payable

– BSBS Advertising ExpenseAdvertising Expense

– ISIS Service FeesService Fees

– ISIS TruckTruck

– BSBS Petty CashPetty Cash

– BSBS Prepaid InsurancePrepaid Insurance

– BSBS Income SummaryIncome Summary

– NEITHERNEITHER