Asked by
shaily verma
on Oct 16, 2024
Verified
The Dividends account normally has a debit balance.
Dividends Account
An account in a company's financial records where dividend payments are recorded, reflecting distribution of profits to shareholders.
Debit Balance
A situation in accounting where the sum of debits exceeds the sum of credits, often indicating the amount owed or an asset's value.
- Comprehend the normal balance and the mechanism of increasing or decreasing different types of accounts (assets, liabilities, equity, revenue, and expenses).
Verified Answer
MP
Learning Objectives
- Comprehend the normal balance and the mechanism of increasing or decreasing different types of accounts (assets, liabilities, equity, revenue, and expenses).