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What is the normal balance for equipment?
The normal balance for equipment is a debit balance. This means that when equipment is purchased, it is recorded as a debit in the accounting records, increasing the asset account. Conversely, when equipment is sold or disposed of, it would be credited, reducing the asset account.
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.
Is equipment a debit or credit balance account?
equipment is a fixed asset.so it's a Debit balance account.
What is the normal balance of drawing?
Drawings is a contra account. Debit is the normal balance of Drawing account.
What is the normal account balance of Income Summary?
It has no normal balance.
What is the normal balance for equipment?
The normal balance for equipment is a debit balance. This means that when equipment is purchased, it is recorded as a debit in the accounting records, increasing the asset account. Conversely, when equipment is sold or disposed of, it would be credited, reducing the asset account.
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.
Is equipment a debit or credit balance account?
equipment is a fixed asset.so it's a Debit balance account.
What is the normal balance of drawing?
Drawings is a contra account. Debit is the normal balance of Drawing account.
What is the normal account balance of Income Summary?
It has no normal balance.
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
What is the normal balance of the merchandise inventory account?
Merchandise Inventory is an asset account, so the normal balance is Debit.
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
What is the normal balance of a cash account?
Cash account normally has debit balance.
What is the normal balance of a capital account?
Capital account has credit balance as a normal balance of account as it is the amount company requires to return back to it's owner at the time of liquidation.
What is the normal balance in an investment account?
debit balance
Is a petty cash account an asset with a normal credit balance?
Petty Cash is an asset account with a normal Debit balance.
