Asked by
Monica Ramos
on Oct 16, 2024Verified
Select the account below that normally has a credit balance.
A) Cash.
B) Office Equipment.
C) Wages Payable.
D) Dividends.
E) Sales Salaries Expense.
Credit Balance
The amount of money in a financial account that indicates a creditor's position; it can also mean the positive balance in a customer's account.
Wages Payable
Wages payable are the amounts owed to employees for work performed that have not yet been paid; it is a liability on the company's balance sheet.
Office Equipment
The tools, devices, or machinery used in an office setting to assist with day-to-day operations, including computers, printers, and furniture.
- Gain insight into the fundamental aspects of debit and credit in the accounting field.
- Identify the effects of transactions on financial statements.
Verified Answer
CG
Learning Objectives
- Gain insight into the fundamental aspects of debit and credit in the accounting field.
- Identify the effects of transactions on financial statements.