00:01
This question gives us like an account of caroline palmer in san francisco called los angeles commitius shatoo service.
00:11
So we're giving a list of accounts.
00:14
I were supposed to provide information for each account, whether they're classified as an asset, liability, owners, equity, revenue, expense, accounts, you know, debit or credit and so on.
00:27
So we're giving a format in which the answer should go, so i'm just going to be drawing that format.
00:38
And it says account's name, account's name, account classification, increase side, decrease side, and normal balance.
01:35
So this is what the table should look like.
01:59
So yeah, the first thing on the list is the cash in bank.
02:05
So we're going to write in all the accounts name, then, you know, we've solved.
02:08
Whether they're going to be an asset or expense.
02:12
So cash in bank, advertising expense, caroline, palmer, withdrawers, airplanes, fwell and oil expense, account receivable, or supposed to be withwell, expense, i'm sorry, repaired expense, caroline parker, palmer, capital account receivable food expense flying fees and account payable so these are the accounts names that we are giving for this question then we're going to be classifying sorry about that we're going to be classifying the account so the first one is cash in bank cash a bank is an asset and in the increase side so in the case where in case whether the increase side is a debit or a credit side.
04:16
An increase in cash in bank is always on the debit side.
04:21
A decrease in the decrease side is on the credit side and the normal balance is on the debit side.
04:31
So that's how it is.
04:34
For advertising expense, it's an expense obviously.
04:40
An increase in it is a debit, a decrease in it is a credit and the normal balance is a debit...