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 .
A non-profit-making organization differs from a profit-making one in that? ...
Use the following information to answer the given question Kudi Local Government Council incurred...
What is the effect of transaction when cash is paid into the bank? ...
Calculate the closing stock under FIFO method ...
Which of the following is not contained in a journal? To record ...
Given: Net profit b/d.....................N10,000 Interest on capital:...M...........N2,000 ......