Identify the statement below that is incorrect. The normal balance of accounts receivable is a debit. The normal balance of dividends is a debit. The normal balance of deferred revenues is a credit. The normal balance of an expense account is a credit. The normal balance of the owner's equity account is a credit.
Solved
Show answers
More tips
- F Family and Home How to Choose a Baby Stroller: Tips from Experienced Parents...
- H Health and Medicine 5 Simple Steps to Quit Smoking for Good...
- C Computers and Internet How to Download Videos from YouTube? Simple Steps to Download Any Content...
- H Health and Medicine What is the Normal Blood Sugar Level in a Healthy Person?...
- S Style and Beauty How to Get Rid of Acne: Scientifically Proven Methods...
- L Leisure and Entertainment How to Choose the Perfect Gift for Men on February 23rd?...
- C Computers and Internet How to Delete Your Account on Odnoklassniki...
- H Health and Medicine 10 Simple and Effective Tips on How to Lose Weight in a Week...
- F Food and Cooking What s the Best Rice for Cooking Plov?...
- F Family and Home How to Get Rid of Your Neighbors?...
Answers on questions: Business
- M Mathematics The digit in the units place of a two-digit number is 5 more than the digit in the tens place. If the digit at tens place is X, then the number is...
- S Social Studies what does it mean for nonverbal communication to regulate conversation?...
- H Health What is a chronic disorder?...
- M Mathematics In triangle RST, RT = 16, ST = 24, and m R = 120. To the nearest tenth, what is m s ?...
- M Mathematics Which of the following is a solution to 2cos^2x-cosx-1=0 a.0 b.150 c.180 d.210...
Ответ:
The normal balance of an expense account is a credit
Explanation:
As we know that
The debit sections records assets and expenses side
whereas, the credit sections records revenue, stockholder equity, and the liability side.
In the given case, the normal balance of account receivable is a debit balance as it is a current asset plus the dividend has also the debit balance
The deferred revenues has credit normal balance plus the normal balance owner equity account has a credit balance
But the normal balance of the expense account has debit balance instead of credit balance
Ответ:
because of supply and demand.