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8 November, 01:08

Consider the following list of accounts: Cash Retained Earnings Service Revenue Utilities Expense Salaries Expense Accounts Receivable Accounts Payable Common Stock Equipment Dividends How many of these accounts have a normal debit balance?

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  1. 8 November, 04:33
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    Cash, account receivable, equipment, utilities expenses, salaries expense

    Explanation:

    Normally, the asset and expense accounts have debit balances while the liabilities, equity, revenue and other income accounts have credit balances.

    In the given list of account:

    Cash, account receivable, equipment belong to asset accounts, therefore will have normal debit balance.

    Utilities expenses, salaries expense belong to expense accounts, therefore will have normal debit balance.

    Remaining items in a given list will have normal credit balance.
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