Which of the following groups of accounts have normal debit balances?
A)assets, revenues, and owner withdrawals
B)assets, expenses, and owner withdrawals
C)assets, liabilities, and capital
D)assets, revenues, and expenses

Question

Quizplus · Accepted Answer

Assets, expenses, and owner withdrawals all have normal debit balances according to the rules of double-entry accounting. Assets increase with debits, expenses are recorded with debits, and owner withdrawals (which decrease owner's equity) are also recorded with debits.

Which of the Following Groups of Accounts Have Normal Debit