1 accounts that normally have debit balance are?
There are several accounts that typically have a debit balance:
1. Assets: This includes accounts like cash, accounts receivable, inventory, and equipment. These accounts represent the resources owned by a company and have a natural debit balance.
2. Expenses: Accounts such as salaries and wages, rent, utilities, and supplies are considered expenses. These accounts reflect the costs incurred by a company and have a debit balance since they decrease the company's net income.
3. Losses: Losses resulting from events like theft, damage, or impairment also have a debit balance, as they decrease the company's overall value or net income.
It's important to note that while these accounts generally have a debit balance, there may be certain instances where they can have a credit balance due to specific transactions or adjustments.