Accounting Classifications & Normal Balances

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Cost of Goods Sold Classification & Normal Balance

Cost of Goods Sold Debit Balance

Accounts Receivable Classification & Normal Balance

Current Asset Debit Balance

Cash Classification & Normal Balance

Current Asset Debit Balance

Interest Receivable Classification & Normal Balance

Current Asset Debit Balance

Inventory Classification & Normal Balance

Current Asset Debit Balance

Allowance for Doubtful Accounts Classification & Normal Balance

Current Asset-Contra Credit Balance

Accounts Payable Classification & Normal Balance

Current Liability Credit Balance

Dividends Payable Classification & Normal Balance

Current Liability Credit Balance

Income Taxes Payable

Current Liability Credit Balance

Interest Payable Classification & Normal Balance

Current Liability Credit Balance

Income Tax Expense Classification & Normal Balance

Income Tax Expense Debit Balance

Copyright Classification & Normal Balance

Intangible Asset Debit Balance

Goodwill Classification & Normal Balance

Intangible Asset Debit Balance

Bonds Payable Classification & Normal Balance

Long-term Liability Credit Balance

Discount on Bonds Payable Classification & Normal Balance

Long-term Liability-Contra Debit Balance

Administrative Expense Classification & Normal Balance

Operating Expense Debit Balance

Amortization Expense Classification & Normal Balance

Operating Expense Debit Balance

Bad Debts Expense Classification & Normal Balance

Operating Expense Debit Balance

Depreciation Expense Classification & Normal Balance

Operating Expense Debit Balance

Freight-out Classification & Normal Balance

Operating Expense Debit Balance

Insurance Expense Classification & Normal Balance

Operating Expense Debit Balance

Interest Expense Classification & Normal Balance

Other Expense Debit Balance

Gain on Disposal of Plant Asset Classification & Normal Balance

Other Income Credit Balance

Interest Revenue Classification & Normal Balance

Other Income Credit Balance

Equipment Classification & Normal Balance

Plant Asset Debit Balance

Accumulated Depreciation-Buildings Classification & Normal Balance

Plant Asset-Contra Credit Balance

Accumulated Depreciation-Equipment Classification & Normal Balance

Plant Asset-Contra Credit Balance

Buildings Classification & Normal Balance

Plant Assets Debit Balance

Common Stock Classification & Normal Balance

Stockholder's Equity Credit Balance

Dividends Classification & Normal Balance

Temporary Account closed to Retained Earnings Debit Balance

Income Summary Classification & Normal Balance

Temporary account closed to Retained Earnings Credit Balance when there is net income Debit Balance when there is a net loss


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