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What else can I help you with?
Is the drawings account an expense account?
The Drawings account is not an expense account. It is a contra equity account. Therefore, it appears on the balance sheet.
What is the normal balance of a expense account?
debit
What is the normal balance of an expense account is?
Debit
The balance in the office cleaning expense account is?
115.00cerdit
Is debit the normal balance in an expense account?
Yes it is.
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
What is the classification and normal balance of the supplies expense account?
debit
What should rent be classified as on a balance sheet?
Rent is not a balance sheet account, it is an expense, hence an income statement account.
Why does purchases account have a debit balance?
Either you can consider purchase is an expense and a debit balance or an asset an a debit balance
Account type and normal balance of prepaid expense?
asset, debit
Is cogs normal debit or credit account?
COGS is expense account and all expenses has debit balance as default normal balance so COGS also has debit balance.
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
