Normal balance: Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance. To determine : The normal balance for each account and the increase, and decrease side of each account.

Question

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Answer 1

Question

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

(c)

To determine

To identify: The other account that ordinarily involved.

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Answer 2

Question

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

(c)

To determine

To identify: The other account that ordinarily involved.

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Answer 3

Question

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

(c)

To determine

To identify: The other account that ordinarily involved.

Expert Solution & Answer

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Answer 4

Question

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

(c)

To determine

To identify: The other account that ordinarily involved.

Expert Solution & Answer

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Answer 5

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

(c)

To determine

To identify: The other account that ordinarily involved.

Answer 6

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

Answer 7

Chapter 3, Problem 3.1BYP

(a)

To determine

Normal balance:

Normal balance refers to the heavier side of an account. When an account shows balance on the left side of the account, it has a normal debit balance. Similarly, when an account shows balance on the right side of the account, it has a normal credit balance. Usually, all asset accounts have normal debit balance, and all the liabilities, and stockholders’ equity accounts have normal credit balance.

To determine: The normal balance for each account and the increase, and decrease side of each account.

Answer 8

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

Answer 9

(b)

To determine

To identify: The other probable account involved in the transaction and the effects of that account.

Answer 10

(c)

To determine

To identify: The other account that ordinarily involved.

Answer 11

(c)

To determine

To identify: The other account that ordinarily involved.

Answer 12

Expert Solution & Answer

Answer 13

Expert Solution & Answer

Answer 14

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Answer 15

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To identify: The other probable account involved in the transaction and the effects of that account.

To identify: The other account that ordinarily involved.

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Chapter 3 Solutions