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Why is a capital account has credit balance?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
What account would be double ruled in the ledger as part of the closing process?
When in accounting the owners capital would be double ruled in the ledger as part of the closing process.So the correct answer will be Owners Capital
What is the journal entry to interest on capital?
[Debit] Interest on capital account xxxx [credit] Capital account xxxx
Is capital account is real account or nominal account?
Real Account
What is unearned commission account classification?
liability
What is the relationship between capital account balance and current account balance?
The balance of payments, then, is the sum of the balance on current account and the balance on capital and financial account. It is important to understand that the deficit indicated by the current account is financed through activities recorded on the capital and financial account. The deficit on the current account must be exactly offset by the surplus on the capital and financial account (if it is not, net errors and omissions will correct it). This means then that the sum of the current account and the capital and financial account is equal to zero.
What is the correct classification of x2 15x?
The correct classification of x2 15x is a monomial.
Why is a capital account has credit balance?
The normal balance in a capital account is a credit. Capital is a balance sheet account. Assets = Liabilities + Capital
Is capital account is personal account or real account?
Capital account as well as Drawings account are Personal accounts !!!
What account would be double ruled in the ledger as part of the closing process?
When in accounting the owners capital would be double ruled in the ledger as part of the closing process.So the correct answer will be Owners Capital
What is the correct classification of the system of equations?
What is the correct classification of the system of equations below?x + 6y = 8y - 2x = 2
What is the journal entry to interest on capital?
[Debit] Interest on capital account xxxx [credit] Capital account xxxx
Is capital account is real account or nominal account?
Real Account
What is unearned commission account classification?
liability
What is the account classification for cash sales?
Revenue
What is the account classification for mortgageWhat is the account classification for mortgage on buildings (repayable in 10 years) on buildings (repayable in 10 years)?
Non current liability
Classification of Working Capital?
stocks and finished goods
