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In the trial balance, which of the following accounts would typically have a cre
In the trial balance, which of the following accounts would typically have a credit balance?
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Practice Questions
1 question
Q1
In the trial balance, which of the following accounts would typically have a credit balance?
Cash
Accounts Receivable
Capital
Inventory
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The Capital account typically has a credit balance in the trial balance.
Questions & Step-by-step Solutions
1 item
Q
Q: In the trial balance, which of the following accounts would typically have a credit balance?
Solution:
The Capital account typically has a credit balance in the trial balance.
Steps: 5
Show Steps
Step 1: Understand what a trial balance is. A trial balance is a list of all the accounts in the accounting system and their balances.
Step 2: Know that accounts can have either a debit balance or a credit balance.
Step 3: Identify which types of accounts usually have a credit balance. Common accounts with credit balances include liabilities, equity, and revenue.
Step 4: Recognize that the Capital account is part of equity.
Step 5: Conclude that since the Capital account is an equity account, it typically has a credit balance.
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