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What accounts will normally maintain a credit balance prepaid taxes interest income rent expense equipment?
Wiki User
∙ 16y ago
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.
Wiki User
∙ 16y ago
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Are accounts payable an interest free source of funding?
Yes, accounts payable are very famous and cheapest source of short term borrowing as normally for repayment of accounts payable not any or some times very small percentage of interest is attached as compare to other sources of short term finances.
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.
Do expense accounts normally have a credit balance?
yes
Are accounts payable an interest free source of funding?
Yes, accounts payable are very famous and cheapest source of short term borrowing as normally for repayment of accounts payable not any or some times very small percentage of interest is attached as compare to other sources of short term finances.
Why you might save money in a saving account?
It's useful to save money so that when you need to buy something or pay a bill, you will have the money to do so. Savings accounts as compared to checking accounts will normally pay a higher interest rate (although at the moment, in Feb. 2013, interest rates are quite low).
Can accounts receivable normally have a debit balance?
Accounts receivable in an asset account and normally maintains a debit balance. So the answer is Yes.
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.
Is interest receivable a long term or short term asset?
Interest receivable is normally a current asset as interest are normally collected within one fiscal year.
Do expense accounts normally have a credit balance?
yes
Is LIBOR normally higher or lower than the US prime interest rate?
It is normally higher than the US prime interest rate.
How do you use 205V equipment on 120V?
Normally you can't use 205V equipment on 120Volts
Are accounts normally decreased by debits?
All credit accounts are decrease by debits while all debit accounts are increased by debits and vice versa.
What accounts normally have a credit balance?
no email acont thats stupid
