The following accounts, in alphabetical order, were selected from recent financial statements of Krispy Kreme Doughnuts, Inc.
|
Accounts payable |
Interest income |
|
Accounts receivable |
Inventories |
|
Common stock |
Prepaid expenses |
|
Depreciation expense |
Property and equipment |
|
Interest expense |
Revenues |
Instructions
For each account, indicate (a) whether the normal balance is a debit or a credit, and (b) the financial statement—balance sheet or income statement—where the account should be presented.