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What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
What is the normal balance for an liability account?
Credit
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
Is interest payable a credit or debit?
Interest payable is liability account and have a credit balance as a normal balance.
The classification and normal balance of the accounts payable account is?
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
What is the normal balance of a liabilty account?
A liability account normally has a credit balance.
What is the normal balance for an liability account?
Credit
The classification and normal balance of the supplies expense account is a or an?
liability with a credit balance
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.
The classification and normal balance of the accounts payable account is?
The classification of Accounts Payable is liability, and a current liability, it has a normal credit balance, and is found on the Balance Statement as a permanent account.
What is the normal balance for accounts payable?
Accounts payable is a liability account and all liability accounts have credit balance as normal balance so accounts payable is also credit as a normal balance
Credit balance in capital account means laibility or an asset?
liability
What is the type of account and normal balance of unearned rent?
liability, credit
What does a credit balance on partner's current account mean?
current liability
If the accumulated depreciation account normally has a credit balance is it a liability?
false.
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.
