which of the following types of accounts have a normal credit balance course hero

Which account is an asset with a debit balance?

The classification and normal balance of the equipment account is an asset with a debit balance In which of the following types of accounts are decreases recorded by credits

What type of accounts record increases to the accounts with credits?

a. debit Cash; credit Accounts Payable b. debit Accounts Receivable; credit Cash c. debit Accounts Payable; credit Cash d. debit Cash; credit Supplies Expense c. debit Accounts Payable; credit Cash All stockholders' equity accounts record increases to the accounts with credits.

What has a debit balance and a credit balance?

Generally the Assets and the expenses has a debit balance and a liabilities and incomes has a credit balance. Here, the Supplies , Accounts receivable , prepaid insurance … View the full answer

Are stockholders'equity accounts recorded as credits or liabilities?

All stockholders' equity accounts record increases to the accounts with credits. FALSE The recording of cash payments from the cash account is done by entering the amount as a credit. TRUE Stockholders' equity is reduced by the amount in the dividends account.

Which of the following types of accounts have a normal credit balance?

Liabilities, revenue, and owner's capital accounts normally have credit balances.

Which accounts have a normal credit balance quizlet?

Credit: Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances. These accounts will see their balances increase when the account is credited.

What is an example of an account that has a normal credit balance group of answer choices?

capital accountThe capital account is an Owner's Equity account which means it has a normal credit balance.

Which of the following groups of accounts have a normal debit balance *?

Assets and expenses generally have normal debit balances.

Which of the following accounts does not have a normal credit balance?

Example of Accounts Where Credit is Not the Normal Balance Accounts where a credit balance is NOT the normal balance include the following: Asset accounts (other than contra asset accounts such as Allowance for Doubtful Accounts and Accumulated Depreciation) Expense accounts (other than a contra expense account)

Which of the following accounts has a normal credit balance quizlet Chapter 5?

Liability, expense, and capital accounts all have normal credit balances.

Which of the following groups of accounts both have a credit balance as the normal balance?

The correct answer is option c. liabilities and stockholders' equity. To make it more understandable, the following table summarizes the normal balances of the following accounts. Based on the above table, liabilities, owner's equity, and revenues have a normal credit balance.

What is a normal credit balance?

Definition of 'normal balance' The normal balance of an account is the side of the account that is positive or increasing. The normal balance for asset and expense accounts is the debit side, while for income, equity, and liability accounts it is the credit side.

Does accounts receivable have a normal credit balance?

Accounts Receivable will normally (In your class ALWAYS) have a debit balance because it is an asset.

Which accounts have normal debit balances at end of period?

The expense accounts have normal debit balances at the end of a fiscal period.

Which of the following is true regarding normal balances of accounts?

Which of the following is true regarding normal balances of accounts? The normal balance is the side of the account that increases the account. Which of the following is true regarding normal balances of accounts? The normal balance is the side of the account that increases the account.

Which three of the following types of account would normally have a debit balance in a trial balance?

The following general ledger account classifications normally have debit balances: Asset accounts. Expense accounts. Loss accounts (Loss on Sale of Plant Asset, Loss from Lawsuit, etc.)