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  5. Which of the followi...

Which of the following accounts has a credit balance?

Accounts - Principles of Accounts
WAEC 2015

Which of the following accounts has a credit balance?

  • A. Capital
  • B. Cash
  • C. Drawings
  • D. Premises
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Correct Answer: Option A
Explanation

Normal balance is the side where the balance of the account is normally found. Asset accounts normally have debit balances, while liabilities and capital normallyhave credit balances. Income has a normal credit balance since it increasescapital . 

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