Homework Answers
Answer: The normal balance of an expense accounts is a credit
Explanations:
The normal balance of Assets, Expenses and Dividend are Debit and
The normal balance of Revenues, Liabilities and Equity are Credit.
So that,
The normal balance of accounts receivable (Asset) is a debit
The normal balance of dividend is a debit
The normal balance of Unearned revenues (liability) is a credit
The normal balance of an expense is a debit
The normal balance of the common stock account (Equity) is a credit
Hence,
The normal balance of an expense is a credit is incorrect.
Add Answer to:
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Identify the type of account (asset, liability, equity) and the normal balance (debit or credit) for...
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1. For each of the following (1) identify the type of account as an asset, liability,...
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2. Indicate with a "D" for Debit and a "C" for Credit, each accounts normal balance...
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