Accounting 2301

For Capital, the category of account and its normal balance are:

A. Assests and a debit balance
B. Liabilities and a credit blance
C. Owner's Equity and a credit balance
D. Owner's equity and a debit balance

  1. 👍 0
  2. 👎 0
  3. 👁 509
  1. Owner's Equity and a credit balance

    1. 👍 1
    2. 👎 0

Respond to this Question

First Name

Your Response

Similar Questions

  1. Accounting - Please check me

    Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Office Supplies- debit Repair Service Revenue- debit Interest Payable- debit Accounts Receivable- creditSalaries Expense- debit

  2. bookkeeping

    Worksheet (Use the information from the trial balance in Exam Figure 2. Write the worksheet information on the form in Exam Figure 1.) You’ll need the following adjustment information: a. P. Woodsley counted the supplies on May

  3. accounting

    Identify whether a debit or credit yields the indicated change for each of the following accounts: a. To increase Store Equipment f. To decrease Unearned Revenue b. To increase Owner Withdrawals g. To decrease Prepaid Insurance c.

  4. Math

    Match the account balance with the debt that it represents. Explain your reasoning. 14. Account balance = -$25 15. Account balance < -$25 12. Account balance > -$25 Anser choices a. Debt > $25 b. debt= $25 c. Debt < $25 sorry for

  1. finance

    computing checking account balance. based on the following information,determine the true balance in your checking account. balance in your checkbook-$356 balance on bank statement,$472 service charge and other fees, $15 interest

  2. accounting

    After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debit or a credit balance.

  3. accounting

    Accrued salaries 1 Bill’s Company Partial Worksheet For the Year Ended December 31st, 2012 Account Titles Trial Balance Adjustments Adjusted Trial Balance Debit Credit Debit Credit Debit Credit Merchandise Inv. 16 Store Supplies

  4. Accounting

    On July 1, 2013, a firm purchased a 1-year insurance policy for $6,300 and paid the full premium in advance. The insurance expense associated with this policy for the year ending December 31, 2013, is $6,300. $3,150. $3,675.

  1. accounting 205

    Net income for the year is $25,000. Withdrawals of $36,000 per were taken at the end of the year. Which of the following occurs? (Points : 1) The Capital account decreases by $22,000. The Capital account decreases by $11,000. The

  2. accounting

    Which of the following statements is incorrect? a. The normal balance of accounts receivable is a debit. b. The normal balance of an expense account is a credit. c. The normal balance of the owner's capital account is a credit. d.

  3. Financial Accounting

    Prepare adjusting journal entries for the year ended December 31, 2011 for each of the independent situation in (a) to (f). Assume that prepaid expenses are initially recorded in asset accounts. Assume that fees collected in

  4. accounting

    Jack Shellenkamp owns and manages a computer repair service, which had the following trial balance on December 31, 2011 (the end of its fiscal year). BYTE REPAIR SERVICE Trial Balance December 31, 2010 Cash $8,000 Accounts

You can view more similar questions or ask a new question.