Classification of Accounts
Provides a list of each account type, what the normal balance (the side of the T chart account that is positive or increasing) is (debit or credit), what classification the account goes to (asset, liability, expenses, equity, etc.) and which financial statement it should appear on (balance sheet, income statement, retained earnings statement or Statement of Owner's Equity, etc.)
Written for
- Institution
-
Three Rivers Community College
- Course
-
ACCT-211 (ACCT211)
Document information
- Uploaded on
- January 24, 2023
- Number of pages
- 3
- Written in
- 2020/2021
- Type
- Other
- Person
- Unknown
Subjects
- accounts
- account title
- normal balance
- account
- account type
- accounts
- account title
-
normal balance
-
credit
-
debit
-
account classification
-
financial statement
-
t chart
-
t ch
-
account classifications account