For each of the following accounts, indicate the effect of a debit or credit on the account and the normal balance. debit effect credit effect normal balance a. bonds payable. select between increase and decrease select between increase and decrease select between credit and debit b. unearned service revenue. select between increase and decrease select between increase and decrease select between credit and debit c. depreciation expense. select between increase and decrease select between increase and decrease select between credit and debit d. common stock. select between increase and decrease select between increase and decrease select between credit and debit e. buildings. select between increase and decrease select between increase and decrease select between credit and debit f. rent revenue.

                                             Debit  Credit  

A Bonds payable                    DecreaseIncrease  

b. Unearned Service Revenue DecreaseIncrease  

c. Depreciation Expense      IncreaseDecrease      

d. Common Stock                    DecreaseIncrease  

e. Buildings.                            IncreaseDecrease  

f. Rent Revenue.                  DecreaseIncrease  

Explanation:

Debit  Credit  

A Bonds payableDecreaseIncrease  

Bonds payable are a form of long term debt usually issued by corporations, hospitals, and governments.    

b. Unearned Service RevenueDecreaseIncrease  

Unearned Service Revenue is a liability account that is used to record advanced collections from clients. In other words, it pertains to revenue already collected but the service has not yet been rendered    

c. Depreciation ExpenseIncreaseDecrease  

Depreciation expense is the amount of depreciation that is reported on the income statement.    

d. Common StockDecreaseIncrease  

Common stock is a security that represents ownership in a corporation.    

e. Buildings.  IncreaseDecrease  

A building, or edifice, is a structure with a roof and walls standing more or less permanently in one place, such as a house or factory    

f. Rent Revenue.DecreaseIncrease  

Rent Revenue is the title of an income statement account which (under the accrual basis of accounting) indicates the amount of rent that has been earned during the period of time indicated in the heading of the income statement.    

answer; encouraging the development of innovations by firms attempting to break a monopoly; (creative destruction)

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