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Question
Which of the following accounts will have a debit balance?
Which of the following accounts will have a debit balance?
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Solution
The correct option is B Furniture account
Assets, expenses, losses, and the owner's drawing account will normally have debit balances.
Their balances will increase with
a debit entry, and will decrease with a credit entry.
Liabilities, revenues and sales, gains, and owner equity and stockholders'
equity accounts normally have credit balances.
Assets, expenses, losses, and the owner's drawing account will normally have debit balances.
Their balances will increase with a debit entry, and will decrease with a credit entry. Liabilities, revenues and sales, gains, and owner equity and stockholders' equity accounts normally have credit balances.
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