The rules for debit and credit and the normal balance of Share Capital-Ordinary are the same as for liabilities.

Name: The rules for debit and credit and the normal balance of Share Capital-Ordinary are the same as for liabilities.
Brand: Quizplus
Rating: 4.8 (26 reviews)

Question

Quizplus · Accepted Answer

Share Capital-Ordinary, like liabilities, has a normal credit balance, and increases in this account are recorded with credits, while decreases are recorded with debits, following the same rules as liabilities.

The Rules for Debit and Credit and the Normal Balance