0
Right side, that is the credit side.
Wiki User
∙ 14y ago
Add your answer:
Earn +20 pts
What accounts are shown an credit side of TB?
Liabilities, Equity, and Revenue.
Will unearned revenue be shown in profit or loss account?
NO
Is bad debts a personal account or nominal account?
Bad debts accounts is a nominal account shown in income statement and use to reduce the accounts receivable amount.
Which balance does a cash accounts always show?
In debit balance a cash account always shown.
What section of the statement of cash flows are equity accounts in?
Equity account or increase or decrease in equity account is shown in cash flow from financing activities.
What accounts are shown an credit side of TB?
Liabilities, Equity, and Revenue.
Will unearned revenue be shown in profit or loss account?
NO
What account do earned revenue go in on a balance sheet?
Earned revenue is part of income statement and it is not shown under balance sheet.
Is bad debts a personal account or nominal account?
Bad debts accounts is a nominal account shown in income statement and use to reduce the accounts receivable amount.
Which balance does a cash accounts always show?
In debit balance a cash account always shown.
What is the normal balance of an account in the accounts payable subsidiary ledger?
Accounts receivables has debit balance as normal balance of account and shown in current assets in balance sheet.
What section of the statement of cash flows are equity accounts in?
Equity account or increase or decrease in equity account is shown in cash flow from financing activities.
What accounts will not be closed to the Capital account at the end of the fiscal year?
All income and expenditure accounts are closed at Year End. and the balance is is shown on the Balance Sheet at Year end.
How do you set up a complete set of bookkeeping accounts?
For setting up a complete set of book-keeping first of all you need to consider the nature of the business. Then list the activities of the business for which you are about to set up bookkeeping. The chart of account (list of account with numbers) will be prepared keeping in view the nature of the business activities. Based on the list of accounts, ledger accounts are prepared. Ledger accounts are the customerily accounts that are to be shown on the financial statements. Ledger accounts contains balance sheet accounts like assets, Liabilities, owner equity and income statement accounts like Revenue, expenses and net profit/loss. Based on the income statement and balance sheet the statement of cash flow are prepared. Hope answer the question Haleem
Accounts payable is considered a what on trial balance credit or debit?
An account payable is a liability and would be considered a credit. Remember liabilities maintain a credit balance. Even when listing on the Trial Balance, all liabilities (including accounts payable) will be shown as their actual type, hence account payable is a credit.
Normal balance of an expense account?
All expenses have debit balance which reduces the profit of company and shown under income statement and all revenues are credit account which increases the income of company
Where can you open an Orange account?
An Orange account has shown higher rates of interest, low or no fees and low or no minimums. The accounts may be opened online or over the phone. The company is based out of Wilmington, Delaware.
