Accounting Normal Balances

by Rekha 2009-12-08 15:44:57

Here is the debit or credit balance you would normally find in the account:


Account ClassificationNormal Balance
AssetsDebit
Contra assetCredit
LiabilityCredit
Contra liabilityDebit
Owner's EquityCredit
Stockholders' EquityCredit
Owner's Drawing or Dividends AccountDebit
Revenues (or Income)Credit
ExpensesDebit
GainsCredit
LossesDebit

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