Accounting Accounts Flashcards
1
Q
Revenues always have a….
A
normal credit balance
2
Q
expenses always have a…
A
normal debit balance
3
Q
liabilities always have a
A
normal credit balance
4
Q
contra assets have a
A
normal credit balance
5
Q
stockholders equity has a
A
normal credit balance
6
Q
assets have a normal
A
debit balance
7
Q
unearned revenue is a
A
liability
8
Q
accumulated depreciation is…
A
contra asset account
9
Q
retained earnings is a
A
stockholders’ equity account
10
Q
interest receivable is a
A
asset account
11
Q
common stock is a
A
stockholders equity account
12
Q
anything with a payable is a
A
liability
13
Q
increasing an account will _____ its normal balance.
A
increase
14
Q
dividend is a …
A
stockholders equity
15
Q
dividends have a normal….
A
debit balance
