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What accounts will normally maintain a credit balance prepaid taxes interest income rent expense equipment?
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Does an expense normally have a credit or debit balance?
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
Does accounts receivable normally have a credit balance?
no
Which normally has a credit balance - accounts receivable or notes payable?
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
What accounts would normally have a credit balance?
no email acont thats stupid
What accounts will normally maintain a credit balance prepaid taxes interest income rent expense equipment?
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Does an expense normally have a credit or debit balance?
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
The accounts listed on the trial balance with a credit balance include?
owners capital. revenue and expense accounts
Does accounts receivable normally have a credit balance?
no
Which normally has a credit balance - accounts receivable or notes payable?
Notes Payable is a liability, so it would normally have a credit balance. Accounts Receivable is an asset which would normally have a debit balance.
Expenses are to be debit or credit?
An Expense would normally have a debit balance.
What accounts normally have a credit balance?
no email acont thats stupid
What accounts would normally have a credit balance?
no email acont thats stupid
Which of the following groups contain only accounts that normally have credit balances?
Salaries Expense and Account Payable
Which accounts normally have credit balances?
All liabilities as well as sales account has credit balance as normal accounting balances.
How is Interest Expense with a credit balance classified in the financial statements?
An Interest Expense with a credit balance is reclassified as Interest Payable on the Balance Sheet.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
