LET’S ANALYZE (Note answer key below)
Activity 9. Understanding the normal balances is just a guide for you to correctly analyze the
effect of the transactions in the accounting equation. The most crucial part of the accounting
process is the journalizing function which is the recording of transaction in the journal. In this
activity you are going to identify the type of transactions (SA, UA, EA or EC), the value received
and parted with,(using the specific account title); the effect of the transactions and at the same
time identify where to place the increase or decrease of the accounts, is it on the debit? or on
the credit side. Again a perfect score is required so that that you can really prepare correctly the
journal entries. The first 2 transactions are answered for your reference.
0
