Question

Review the Google balance sheet in Appendix A. Identify an asset with the word receivablein its account title and a liability with the word payablein its account title.

Short answer

The three accounts having debit and credit balances are as follow –

Debit Balance	Credit Balance
1. Cash and cash equivalent	1. Short-term debt
2. Marketable security	2. Accrued expenses
3. Accounts receivables	3. Deferred revenue

Step-by-step solution

Accounts with debit balances

In the balance sheet, generally, the assets have debit balances. In the balance sheet given in the appendix for Google, it has $147,461 million of total assets in 2015.

The three accounts having debit balances on the balance sheet are –

a) Cash and cash equivalent

b) Marketable security

c) Accounts receivables

Accounts with credit balances

In the balance sheet, the liabilities and equity have credit balances. In the balance sheet given in the appendix for Google, it has $27,130 million of total liabilities and $120,331 million of the total shareholder’s equity in 2015.

The three accounts having debit balance in the balance sheet are –

a) Short term debt

b) Accrued expenses

c) Deferred revenue