Bank overdraft is debit or credit in trial balance

Asked by admin @ 20/08/2021 in Accountancy viewed by 637 People

In trial balance bank overdraft is debit or credit

Answered by admin @ 20/08/2021

Explanation:

Bank overdraft is shown on the credit side of the trial balance. Bank overdraft is a liability for the company as it is to be paid at a future date.

Does accounts receivable have a normal debit or credit balance

Asked by admin @ 29/10/2021 in Business viewed by 318 persons

Account(s) with a normal credit balance include:_________. A) Accounts Receivable B) Allowance for Uncollectible Accounts C) Bad Debt Expense D) Cash E) Sales Revenue

Bank overdraft comes under which head in balance sheet

Asked by admin @ 23/08/2021 in Accountancy viewed by 443 persons

Is bank overdraft will come under which head in preparation on balance sheet

Credit balance of bank account in cash book shows

Asked by admin @ 13/08/2021 in Accountancy viewed by 540 persons

Credit balance in the bank column of cash book shows:

What is a major difference between banks and credit unions

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What is the difference between a Bank and a Credit Union?

Which of the following accounts has a normal debit balance

Asked by admin @ 26/11/2021 in Business viewed by 371 persons

Which accounts have a normal credit balance? choose all answers that are correct A) Supplies B) Accounts Payable C) Cash D) Insurance E) Capital F) Sales

Which of the following accounts normally has a debit balance

Asked by admin @ 26/11/2021 in Business viewed by 324 persons

For the following, mark a "D" if the following account normally has a debit balance and mark a "C" if the following account normally has a credit balance. 1. Notes …

Sales discounts is a revenue account with a credit balance

Asked by admin @ 22/11/2021 in Business viewed by 309 persons

The Sales Discounts Forfeited account ________. Select one: A. represents additional sales revenue B. is a contra Sales Revenue account C. is a balance sheet account D. represents the discount …

A credit is not the normal balance for which account

Asked by admin @ 10/11/2021 in Business viewed by 310 persons

Assuming normal balances, which of the following statements is not true for T accounts? a.The excess of the credits of a liability account over the debits is the balance of …

The normal balance of an expense account is a credit

Asked by admin @ 10/11/2021 in Business viewed by 276 persons

For the accounts listed below, indicate if the normal balance of the account is a debit or credit. Accounts Normal Balance 1. Service Revenue 2. Rent Expense 3. Accounts Receivable …

An account is said to have a debit balance if

Asked by admin @ 03/10/2021 in Business viewed by 318 persons

An account is said to have a debit balance if a) its normal balance is debit without regard to the amounts or number of entries on the debit side. b) …

The credit balance of income and expenditure account

Asked by admin @ 26/08/2021 in Accountancy viewed by 482 persons

The credit balance of an income and expenditure account indicates Deficit

Which of the following accounts have only credit balance

Asked by admin @ 17/08/2021 in Accountancy viewed by 457 persons

Which of the following accounts have only credit balance? (a) Reserve fund account (b) Capital account (c) Accounts payable (d) All of these

Loan taken from dena bank should be credited to

Asked by admin @ 13/08/2021 in Accountancy viewed by 3217 persons

Loan taken from Dena Bank should be credited to …… * 2 pointsCapital A/cDena Bank A/cCash A/cDena Bank Loan A/c

Debit the receiver credit the giver is rule for

Asked by admin @ 10/08/2021 in Accountancy viewed by 470 persons

7. Debit the receiver, credit the giver is rule for [A] personal account[B] tangible real account[C] nominalaccount[D] representative personal account