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7 July, 10:00

Which account would be most likely to have an account balance that is not normal?

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  1. 7 July, 10:20
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    The "normal" status of an account is due to the implicitly of the formula:

    assets = liabilities + equity.

    The allowance for doubtful accounts is a contra account to accounts receivable, Accumulated depreciation is a reduction of fixed assets, And dividends are a reduction of equity

    The accounts above are called "contra asset" accounts meaning that: is a negative asset account that offsets the asset account with which it is paired.
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