Which of the following accounts does not have a normal credit balance?
A)Common Stock
B)Notes Payable
C)Deferred Revenue
D)Equipment

Question

Quizplus · Accepted Answer

Recall the accounting equation (Assets = Liabilities + Stockholders' Equity)and that debits increase accounts on the left-side of the equation and credits increase accounts on the right-side of the equation.Asset accounts (Equipment)and expense accounts have normal debit balances.Liability accounts (Notes Payable and Deferred Revenue),stockholders' equity accounts (Common Stock),and revenue accounts have normal credit balances.

Which of the Following Accounts Does Not Have a Normal