Which of the following accounts has a credit balance?
...Which of the following accounts has a credit balance?
Capital
Cash
Drawings
Premises
Correct answer is A
Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. Income has a normal credit balance since it increases Capital .
The main difference between the ordinary and preference shareholders is that ...
The excess of net assets acquired over purchase consideration is ...
Which of the following is an intangible asset and a measure of a firm's superior earning power? ...
Doe and Sons Limited would enter the 3% discount in the ...
Use the following information to answer the given question: \(\begin{array}{c|c} & N \\ \hl...
The suspense account is used to correct book-keeping error where the ...