Normal Balance

Next Lesson: Bookkeeping

Normal Balance of different Types of Accounts are mentioned below:

List of Normal Balances

SN	Accounts	Debit	Credit
1	Assets	Yes
2	Liabilities		Yes
3	Expenses	Yes
4	Revenue		Yes
5	Owner’s Equity		Yes
6	Drawing	Yes
7	Purchase Return		Yes
8	Sales Return	Yes
9	Accumulated Depreciation		Yes
10	Provision for Bad Debts		Yes

For each of the following items write Types of Accounts and Normal Balances:

SN	Accounts	Types of Accounts	Normal Balance
1	Cash at bank	Asset	Debit
2	Financial charges paid	Expense	Debit
3	Accumulated Depreciation	Contra Fixed Asset	Credit
4	Stock in trade	Asset	Debit
5	Return Inward	Contra Revenue	Debit
6	Advance deposit and prepayments	Asset	Debit
7	Carriage inward	Expense	Debit
8	Commission received	Revenue	Credit
9	Sundry debtors	Asset	Debit
10	Purchases Return	Contra Expense	Credit
11	Investment by Owner	Owner's Equity	Credit
12	Bank charges (Dr)	Expense	Debit
13	Profit	Owner's Equity	Credit
14	Provision for bad debts	Contra Account Receivable	Credit
15	Cash in hand	Asset	Debit
16	Mark up (Cr)	Revenue	Credit
17	Sundry creditors	Liability	Credit
18	Transportation outward	Expense	Debit
19	Return outward	Contra Expense	Credit
20	Due from customers	Asset	Debit
21	Capital gain	Owner's Equity	Credit
22	Loss	Owner's Equity	Credit
23	Unearned Revenue	Liability	Credit
24	Salaries payable	Liability	Credit
25	Deinvestment by owner	Drawing	Debit
26	Sales Return	Contra Revenue	Debit
27	Outstanding wages	Liability	Credit