Account normal balance

From CNM Wiki
(Redirected from Normal balance)
Jump to: navigation, search

Account normal balance (alternatively known as normal balance of an account or, simply, normal balance; hereinafter, the Balance) is either a credit or debit of any financial account that is affected when this account increases. Some accounts such as Income Summary have no Balance (i.e., these accounts could have a debit or a credit balance).


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Normal balance of an account. The side of an account that increases by the rules of debit and credit.

Related concepts

Related lectures