Credit balance of bank account in cash book shows

Asked by admin @ 13/08/2021 in Accountancy viewed by 539 People

Credit balance in the bank column of cash book shows:

Answered by admin @ 13/08/2021

Answer:

CREDIT BALANCE

Explanation:

When the customer deposits any amount in the bank, his bank balance increases,i.e., Cash Book(Bank Column)shows a debit balance. At the same time when bank recieves the deposit,the customer's amount is credited, Thus the Pass Book shows a Credit Balance

Sales discounts is a revenue account with a credit balance

Asked by admin @ 22/11/2021 in Business viewed by 306 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

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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 …

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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 …

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Write difference between receipt payment and cash book?

Which of the following accounts has a normal credit balance

Asked by maham237 @ 01/01/2021 in Business viewed by 319 persons

Which of the following types of accounts have a normal credit balance? A. liabilities and expenses B. common stock and dividends C. revenues and common stock D. assets and liabilities