Which accounts normally have debit balances?
Understand the Problem
The question is asking about the types of accounts in accounting that usually maintain a debit balance. Typically, these accounts include assets, expenses, and losses, which are recorded as debits in the accounting system.
Answer
Assets, dividends, and expenses
The final answer is Assets, dividends, and expenses normally have debit balances.
Answer for screen readers
The final answer is Assets, dividends, and expenses normally have debit balances.
More Information
In accounting, accounts that normally have debit balances include Assets, Dividends, and Expenses. These types of accounts increase with a debit entry and decrease with a credit entry.
Tips
A common mistake is to confuse accounts with debit balances (assets, dividends, expenses) with those that have credit balances (liabilities, revenues, equity). Understanding the nature of each account is crucial.
Sources
- Which accounts normally have debit balances? | AccountingCoach - accountingcoach.com
- Solved Which accounts normally have debit balances? | Chegg.com - chegg.com
- Which accounts normally have debit balances? - homework.study.com - homework.study.com
