Updated 6/1/2014 6:19:01 PM. The basic accounting equationcan be stated as follows: Debit simply means on the left side of the equation, whereas credit means on the right hand side of the equation as summarized in the table below. The common stock has a credit balance and the dividend has a debit balance - … The normal balance for each account type is noted in the following table. Correct! Accounts Payable. To understand the concept of the normal balance consider the following examples in relation to the table above. 8. Solution for Which of the following accounts has a normal debit balance? B. Unearned Revenue. A normal balance is the expectation that a particular type of account will have either a debit or a credit balance based on its classification within the chart of accounts.It is possible for an account expected to have a normal balance as a debit to actually have a credit balance, and vice versa, but these situations should be in the minority. When you use cash, your are crediting the cash account, and when you deposit cash, you are debiting your cash account. The normal balance is part of the double-entry bookkee… Which of the following accounts has a normal debit balance? All accounts will normally have a balance on their increase side. Get the detailed answer: Which of the following accounts has a normal debit balance? The debit balance in a margin account is the total owed by a customer to a broker for funds borrowed to purchase securities. Rent expense normally has a debit balance. Question. A contra account balance is a debit balance account. D. Salaries Expense. The contra equity account usually refers to treasury stock, which is stock that has been bought back by the company, and so carries a normal balance that is the reverse of the normal balance for an equity account. He has been a manager and an auditor with Deloitte, a big 4 accountancy firm, and holds a degree from Loughborough University. Normal Balances of Accounts. But I suspect Debit is the answer the instructor was looking for. The debit columns report assets and expenditures side while sales, stockholder equity, and the liability side are reported in the credit column. Step-by-step explanation: New questions in Math. Accounts that normally have a debit balance include assets , expenses , and losses . 1 Answer/Comment. An entry reverses a transaction that was in a prior year, and which has already been zeroed out of the account. 15. Which accounts normally have debit balances? Wrong! Select one: a. A debit signifies a decrease in: a. assets b. expenses c. dividends d. revenue 17. Which of the following statements is (are) true about accounts receivables? Examples of Debit Balances. Which of the following accounts has a debit normal balance? 2) Classic Floors has the following inventory data: July 1 Beginning inventory 15 units at $8.00. Which of the following accounts normally has credit balance? Which of the following accounts has a normal debit balance? normal balance of each is a debit or a credit. (Check all that apply.) (adsbygoogle = window.adsbygoogle || []).push({}); For this reason the account balance for items on the left hand side of the equation is normally a debit and the account balance for items on the right side of the equation is normally a credit. d. Sales. It is part of double-entry book-keeping technique.. An account has either credit (Abbrev. Revenues, Liabilities, And Stockholders' Equity Expense accounts have a normal debit balance and do not have a normal credit balance. In accounting and bookkeeping, a debit balance is the ending amount found on the left side of a general ledger account or subsidiary ledger account.. So for example a debit entry to an asset account will increase the asset balance, and a credit entry to a liability account will increase the liability. Sales Discounts. Best answer. For example: CASH is increased by debits and has a debit normal balance. Which of the following accounts has a normal debit balance? Sales Revenue. A contra account is one which is offset against another account. a. a Accounts receivable is increased with a debit. By identifying the type of account (asset, liability etc.) Question: Which Of The Following Groups Of Accounts Have A Normal Debit Balance? Question 12 Not yet answered Points out of 3.00 Flag question Question text Which of the following is NOT associated with accrual basis accounting? C. Service Revenue. Home > Bookkeeping Basics > Normal Balance of Accounts. Which of the following account with normal balance is shown at the debit side of a trial balance? Which of the following applications of the rules of debit and credit is true? Download the latest available release of our FREE Simple Bookkeeping Spreadsheet by subscribing to our mailing list. 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