Unformatted text preview: List the types of classifications of accounts: A = Assets L = Liabilities C = Capital Stock I = Income (Revenue) E = Expense Arrange the letters to read “ALICE.” Then list normal balances by the side of each. A = Dr. L = Cr. I = Cr. C = Cr E = Dr. Note that ALICE begins and ends with normal Dr. balance accounts while the three middle classifications are normal Cr. balance accounts....
View Full Document
- Spring '08
- Double-entry bookkeeping system, Eating Dinner, Liabilities Revenues Capital