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1. asset, debit 2. expense, debit 3. revenue, credit 4. liability, credit which one of them???
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Which type of account is prepaid expenses?
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What is the normal balance of a prepaid insurance account?
Debit.
Account type and normal balance of prepaid expense?
asset, debit
Is wages and salaries expenses on a normal balance account considered a debit or credit?
Wages and salaries both are expenses to the company and like all expenses normal debit balance these accounts also have debit balance as their normal balance.
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.
Which type of account is prepaid expenses?
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
What is the normal balance of a prepaid insurance account?
Debit.
Account type and normal balance of prepaid expense?
asset, debit
Is wages and salaries expenses on a normal balance account considered a debit or credit?
Wages and salaries both are expenses to the company and like all expenses normal debit balance these accounts also have debit balance as their normal balance.
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.
What is the normal balance for prepaid rent?
Prepaid rent is a rent paid in advance so it is current asset and it will have debit balance as normal balance.
Is the normal balance side of a liability account the debit side?
Normal balance of all liabilities accounts are credit side while debit balance is of all expenses and assets.
Do expenses have credit or debit?
All expenses has debit balance as normal default balance while all income has credit balance as normal default balance.
Is expenses have a normal debit balances?
Yes, all expenses has debit balance as normal balance and shown in income statement.
Expenses are to be debit or credit?
An Expense would normally have a debit balance.
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
What is the normal balance of a withdrawal?
Drawings account has a normal balance as a reverse of owners equity account which is debit balance as a normal balance.
