Identify the accounts that would normally have balances in the debit column of a business's trial balance.
A)Assets and expenses.
B)Assets and revenues.
C)Revenues and expenses.
D)Liabilities and expenses.
E)Liabilities and withdrawals.

Question

Quizplus · Accepted Answer

Accounts that would normally have balances in the debit column of a business's trial balance are those that increase with debits and decrease with credits. As assets are debited when they increase and expenses are debited when they are incurred, they would normally have balances in the debit column. Liabilities and revenues, on the other hand, increase with credits and decrease with debits and so would normally have balances in the credit column. Withdrawals are also a type of equity account that would normally have a debit balance, but they are not listed as an option.

Identify the Accounts That Would Normally Have Balances in the Debit