d Propaid In f Dividends SolutionThe general rule is All the

d Propaid In f Dividends

Solution

The general rule is.

All the asset and Exp accounts normally have Dr Balance and they will increase with Dr entry.

All the liability and revenue account will have Cr balance and will increase with Cr entry.

All the equity accounts will have Cr balance .

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Account

Type of account

Normal balance

Increase (Dr or Cr)

Land

Asset

Left side of T account

Debit for increase

Cash

Asset

Left side of T account

Debit for increase

Legal Exp

Expense

Left side of T account

Debit for increase

Prepaid Insurance

Asset

Left side of T account

Debit for increase

A/R

Asset

Left side of T account

Debit for increase

Dividends

Equity

Left side of T account

Debit for increase

License Fee

equity

Right side of T account

Credit for increase

Unearned revenue

Liability

Right side of T account

Credit for increase

Fee earned

Revenue

Right side of T account

Credit for increase

Equipment

Asset

Left side of T account

Debit for increase

Notes payable

Liability

Right side of T account

Credit for increase

Common stock

Equity

Right side of T account

Credit for increase

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Hope this answer your query.

Feel free to comment if you need further assistance. J

Account	Type of account	Normal balance	Increase (Dr or Cr)
Land	Asset	Left side of T account	Debit for increase
Cash	Asset	Left side of T account	Debit for increase
Legal Exp	Expense	Left side of T account	Debit for increase
Prepaid Insurance	Asset	Left side of T account	Debit for increase
A/R	Asset	Left side of T account	Debit for increase
Dividends	Equity	Left side of T account	Debit for increase
License Fee	equity	Right side of T account	Credit for increase
Unearned revenue	Liability	Right side of T account	Credit for increase
Fee earned	Revenue	Right side of T account	Credit for increase
Equipment	Asset	Left side of T account	Debit for increase
Notes payable	Liability	Right side of T account	Credit for increase
Common stock	Equity	Right side of T account	Credit for increase