Question

personal account always show debit balance (true or false)​

Answer 1

Answer:

False

Explanation:

The debit balance of a personal account indicates debts owed to the person and the credit balance indicates debts owed to that person. For the company, the first  is the receivable or asset while the second is the liability or liability. Any personal account that has a debit balance (that is, an excess of the debit  over the credit) shows the amount by which the debit  is greater than the credit. The debit balance can be collected from the person whose account has a debit balance.

A debit balance on a personal account is an asset, and therefore a debit balance on a personal account is an asset, and therefore how many debit balances there are personal accounts, the more  assets there are in the form of outstanding receivables. The debit balance of a personal account shows the amount to be collected.

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Answer 2

Explanation:

If the total of the debit side exceeds the total of credit side then this would be represented by a debit balance and opposite is true for a credit balance. When there is only one entry in an account, then obviously that item is the balance or difference between the two sides.