Which of the following accounts have a debit balance?

Definition

Where the total of the debit side is more than the credit side therefore the difference is the debit balance and is placed credit side as “ by balance c/d “

A furniture account that is an asset has a debit balance.

Debit balance may arise due to timing differences in which case income will be accrued at the year’s end to offset the debit.

The amount is shown in the record of a company s finances, by which its total debits are greater than its total credits.

The account which has debit balances are as follows:

• Assets accounts

Land, furniture, building machinery, etc

• Expenses accounts

Salary, rent, insurance, etc

• Losses

Bad debts, loss by fire, etc

• Drawings

Personal drawings of cash or assets

• Cash and bank balances

Balances of these accounts

The account has credit balances as follows:

• Liabilities accounts

Creditors, bills payable, etc

• Income accounts

Salary received, interest received, etc

• Profits

Dividends, interest, etc

• Capital

Partners Capital

Here are some examples showing the debit balances and credit balances of the accounts :