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    Normal Balance

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    Vince Ferdinand Pajanustan
    This document outlines the normal balance of common accounting accounts, indicating whether the account balance increases or decreases with debits and credits. It shows that assets and owner's capital normally increase with debits, while liabilities, expenses, and contra assets normally increase with credits. Sales, cost of goods sold, and merchandise inventory accounts normally increase with credits, while purchases and discounts normally increase with debits.

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    Normal Balance

    Uploaded by

    Vince Ferdinand Pajanustan
    7 views2 pages
    This document outlines the normal balance of common accounting accounts, indicating whether the account balance increases or decreases with debits and credits. It shows that assets and owner's capital normally increase with debits, while liabilities, expenses, and contra assets normally increase with credits. Sales, cost of goods sold, and merchandise inventory accounts normally increase with credits, while purchases and discounts normally increase with debits.

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    This document outlines the normal balance of common accounting accounts, indicating whether the account balance increases or decreases with debits and credits. It shows that assets and owner's capital normally increase with debits, while liabilities, expenses, and contra assets normally increase with credits. Sales, cost of goods sold, and merchandise inventory accounts normally increase with credits, while purchases and discounts normally increase with debits.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    7 views2 pages

    Normal Balance

    Uploaded by

    Vince Ferdinand Pajanustan
    This document outlines the normal balance of common accounting accounts, indicating whether the account balance increases or decreases with debits and credits. It shows that assets and owner's capital normally increase with debits, while liabilities, expenses, and contra assets normally increase with credits. Sales, cost of goods sold, and merchandise inventory accounts normally increase with credits, while purchases and discounts normally increase with debits.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Flag for inappropriate content
    Download as docx, pdf, or txt
    of 2

    NORMAL BALANCE

    INCREASE DECREASE
    ASSETS Dr Cr
    LIABILITIES Cr Dr
    OWNER’S CAPITAL Cr Dr
    OWNER’S Dr Cr
    WITHDRAL
    INCOME Cr Dr

    EXPENSE Dr Cr
    CONTRA ASSETS Cr Dr
    NORMAL BALANCE
    INCREASE DECREASE
    Sales Cr Dr
    Sales all & ret Dr Cr
    Sales discount Dr Cr
    Purchases Dr Cr

    Purchases Discount Cr Dr

    COGS Dr Cr
    Merchandise Inv Dr Cr

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