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If liabilities are $5000 and owners equity is $10,000 assets are: A $15,000; B $5000; C $10,000; D $2000
If liabilities are $5,000 and owners equity is $10,000, assets are $15,000. Assets = liaiblities + owners equity
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Asked 3/5/2015 4:47:11 PM
Updated 3/6/2015 7:36:34 PM
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If liabilities are $5,000 and owners equity is $10,000, assets are $15,000.
Assets = liaiblities + owners equity
Added 3/6/2015 7:36:34 PM
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The normal balance of an account is the
Weegy: The normal balance of an account is the debit balance. User: Which of the following accounts have normal debit balance? Accounts payable Accounts Receivable capital cash drawing equipment fees income prepaid rent supplies salary expenses utility expense (More)
Question
Expert Answered
Updated 3/5/2015 7:21:24 PM
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The normal balance of an account is the side in which increases are recorded. For example, assets are increased with debits and therefore the normal balance of an asset is debit. Liabilities are increased with credits and therefore the normal balance of a liaibility is credit.
Added 3/5/2015 7:18:53 PM
This answer has been confirmed as correct and helpful.
The following accounts have normal debit balance:
Accounts receivable, cash, drawing, equipment, prepaid rent, supplies, salaries expense, utilities expense.
Added 3/5/2015 7:21:24 PM
This answer has been confirmed as correct and helpful.
Revenues and expenses are found on the a statement of owners equality b balance sheet c income statement
Weegy: Revenues and expenses are found on the B. Balance sheet (More)
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Updated 3/6/2015 6:54:47 AM
1 Answer/Comment
Revenues and expenses are found on the Income Statement.
Added 3/6/2015 6:54:36 AM
This answer has been confirmed as correct and helpful.
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