Revenue account
Generally revenue account don't have a credit balance because the revenue earned during the year is transfer to Income statement.
Question 14 Which of the following accounts does not have a normal credit balance? O Share...
Which of the following groups of accounts have a normal credit balance? A. Assets, capital, and withdrawals B. Liabilities, expenses, and assets C. Assets, expenses, and withdrawals D. Revenue, liabilities, and capital Which of the following groups of accounts have a normal debit balance? A. Liabilities, Expenses, and Assets B. Revenue, Liabilities, and Expense C. Assets, Expenses, and Withdrawals D. Assets, Capital, and Withdrawals The ledger is: A. a group of accounts that records results from business transactions. B. a tool used to ensure that all accounts have normal balances. C. a tool...
Which of the following accounts does NOT have a normal debit balance?Group of answer choicesUnearned RevenueWages ExpenseLandDividendsCost of Goods Sold
Which of the following accounts does NOT have a normal balance? A. Office Supplies--Balance 1,000 debit B. Accounts Payable --Balance 1,000 credit C. Unearned Revenue--Balance 1,000 credit D. Utilities expense--Balance 1,000 debit E. Service Revenue-Balance 1,000 debit
Question 4 (14 marks) For each of the following accounts indicate in the examination booklet a the type of account (Asset,Liability, Owner's capital, Owner's drawings, Revenue Expense), b the debit and credit effects, and the normal account balance. Example 0. Cash a Asset account b. Debit increases, credit decreases C. Normal balance-debit 1. Accounts Payable 2 Accounts Receivable 3. J Stonehedge, Capital 4. J. Stonehedge, Drawings 5 Service Revenue 6. Insurance Expense 7 Notes Payable 8. Equipment
All of the following accounts have a normal credit balance except:Group of answer choicesPrepaid RentAccounts PayableUnearned RevenueRevenueNotes Payable
question 12.13 Question 12 (1 point) The normal balance of wages payable is a because it is a(n) account. credit, revenue credit, liability credit, asset credit, owner's equity Question 13 (1 point) Saved A credit is NOT the normal balance for which account listed below Revenue Capital Drawings Liability
7. A credit is not the normal balance for which account listed below? a. Common Stock account b. Revenue account c. Liability account d. Dividends account A) 8. Purrfect Pets, Inc. makes a $10,000 payment on account. This would result in a: $10,000 credit to Cash and a $10,000 credit to Accounts Payable. $10,000 debit to Cash and a $10,000 debit to Accounts Payable. $10,000 debit to Accounts Payable and a $10,000 credit to Cash. $10,000 debit to Cash and...
Which of the following accounts has a normal credit balance? Notes Payable. Accounts Receivable. Dividends. Equipment.
QUESTION 1 4 pa Determine whether the normal balance of each account is a debit or credit balance - Dividends - Revenues 1. Debit - Deferred/Unearned revenue 2. Credit - Accounts payable - Expenses QUESTION 2 1.5 pc When a company performs a service but does not receive cash at the time of service, revenue is credited, tell me which account will be debited? O cash accounts payable o accounts receivable dividends QUESTION 3 On January 8, Nickel Corporation purchased...
Identify the statement below that is incorrect Multiple Choice o The normal balance of accounts receivable is a debit. o The normal balance of dividends is a debit o The normal balance of unearned revenues is a credit. o The normal balance of an expense account is a credit. o The normal balance of the common stock account is a credit