WebThe account Salaries Expense has a normal _____balance. debit: The total net pay for the period is recorded as a _____to the Cash in Bank account. credit: When federal unemployment taxes are recorded by the employer, a _____ entry is made to the Federal Unemployment Tax Payable account. credit: Payroll Tax Expense has a normal … WebThe normal balance is defined as the balance which would show either credit or debt when all the data from the journal is extracted. The normal balance is calculated by the accounting equation, which says that the assets of a company are equal to the sum of liabilities and shareholder’s equity.

Question: What is the normal balance of an expense account?

WebApr 11, 2024 · Business Accounting Which of the following groupings of accounts includes only accounts that carry a normal credit balance? a.Customer Refunds Payable, … WebA normal balance is one that is recorded on the side of the account on which decreases to that account are recorded. True False The date columns in a journal are on the right-hand … balam cucumber

Normal Balance of Accounts: Definition and Example

Web80 rows · Oct 14, 2024 · Each of the accounts in a trial balance extracted … WebThe classification and normal balance of the supplies expense account is a (n) A. asset with a debit balance B. expense with a debit balance C. asset with a credit balance D. liability with a credit balance Definition B. expense with a debit balance Term Accounts are records of increases and decreases in individual financial statement items. True WebA normal balance is the side of the T-account where the balance is normally found. When an amount is accounted for on its normal balance side, it increases that account. On the … a rhodesian ridgeback dog