Identify the list of accounts below that would normally all have a credit balance.
A) Salaries Payable,Employee Income Tax Payable,Owner's Capital
B) Salaries Payable,Prepaid Insurance,Medicare Tax Payable
C) Wages Expense,Salaries Payable,Equipment
D) Employee Income Tax Payable,Social Security Tax Payable,Salaries Expense

Question

Quizplus · Accepted Answer

Liabilities like Salaries Payable and Employee Income Tax Payable, and equity accounts like Owner's Capital, typically have credit balances.

Identify the List of Accounts Below That Would Normally All