0
Is the normal balance of a liability account a debit or a credit?
Wiki User
∙ 10y agoWant this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
What is the normal balance for an liability account?
Credit
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
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
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
The classification and normal balance of the accounts payable account is?
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
What is the normal balance for an liability account?
Credit
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
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
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
The classification and normal balance of the accounts payable account is?
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
What is the type of account and normal balance of unearned rent?
liability, credit
What kind of an account (asset liability etc.) is Allowance for Doubtful Accounts and is its normal balance a debit or a credit?
What kind of an account (asset, liability, etc.) is Allowance for Doubtful Accounts, and is its normal balance a debit or a credit?
Why increasing a liability account with a credit when increasing an asset account with a debit?
Liability has credit balance as normal balance so credit joins credit and increases it while assets has debit balance as normal balance so debit and credit cannot join together like plus plus is equals to plus.
Does sales tax payable have a normal credit balance?
All payable maintain a credit balance. A payable is a liability account and therefore like a liability does increase with a credit and decrease with a debit.
What is the normal balance of a bonds payable account?
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
Is paid in capital a debit or credit account?
Paid in capital is liability for business and like all liabilities it also has credit balance as normal balance.
