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Is the normal balance side of a liability account the debit side?
Wiki User
∙ 9y ago
Normal balance of all liabilities accounts are credit side while debit balance is of all expenses and assets.
Wiki User
∙ 9y ago
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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?
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
What account has a normal debit balance?
debit
Which account has a normal debit balance?
Does work-in-process has a normal balance as a debit or credit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
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?
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
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.
What account has a normal debit balance?
debit
Which account has a normal debit balance?
Does work-in-process has a normal balance as a debit or credit
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit 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.
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.
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.
What is the normal balance in an investment account?
debit balance
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 the normal balance of an account receivable account?
Debit
