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Debit
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What is the normal balance of a expense account?
debit
Is debit the normal balance in an expense account?
Yes it is.
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
What is the classification and normal balance of the supplies expense account?
debit
Account type and normal balance of prepaid expense?
asset, debit
What is the normal balance of a expense account?
debit
Is debit the normal balance in an expense account?
Yes it is.
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
What is the classification and normal balance of the supplies expense account?
debit
Account type and normal balance of prepaid expense?
asset, debit
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.
Is the drawings account an expense account?
The Drawings account is not an expense account. It is a contra equity account. Therefore, it appears on the balance sheet.
Is Accumulated depreciation account is an expense account?
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
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.
What is depreciation expense?
normal balance of debit
