Normal Balance of Major Accounts

What is the normal balance of equity accounts?

• Debit

• Credit

• None

• Variable

What is the normal balance of liability accounts?

• Debit

• Credit

• Equity

• Asset

How do asset accounts decrease?

• Debit

• Credit

• Withdraw

• Expense

How do liability accounts decrease?

• Credit

• Debit

• Increase

• Withdraw

What is the normal balance of asset accounts?

• Credit

• Debit

• Equity

• Liability

How do expense accounts decrease?

• Debit

• Credit

• Withdrawal

• Transfer

What is the normal balance of drawing accounts?

• Credit

• Debit

• Liability

• Asset

How do revenue accounts increase?

• Debit

• Credit

• Withdrawals

• Expenses

How do liability accounts increase?

• Debit

• Credit

• Withdraw

• Transfer

What is the normal balance of revenue accounts?

• Debit

• Credit

• Liability

• Expense