Question

Mention a class of account that would always show debit balance credit balance please correct answers

Answer 1

Asset, Expense and Loss Accounts will show a Debit Balance at the year end.

Liability,Capital, Income & Gain Accounts will show a Credit Balance at the year end.

Answer 2

Mention a class of account that would always show debit balance credit balance

• Normally, the owner's drawing account, costs, losses, and assets will all have negative balances. With a debit entry, their balances will rise, while a credit entry will make them fall.
• Because cash payments will never exceed cash receipts and cash on hand at the beginning of the quarter, the cash account will always have a negative balance.
• The account has a debit balance if debits outnumber credits, and a credit balance if credits outnumber debits.
• Therefore, we will need to debit the asset for the acquisition or growth. Additionally, you must credit the asset account upon the sale of any previously purchased assets. As a result, an asset account's debit side will typically be greater than its credit side, resulting in a debit balance.
• Natural debit balances exist for both assets and expenses. This indicates that positive asset and expense values are debited and negative balances are credited.

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