Which of the following describes the classification and normal balance of the retained earnings account?
A)Asset,debit
B)Stockholders' equity,credit
C)Liability,credit
D)Stockholders' equity,debit

Name: Which of the following describes the classification and normal balance of the retained earnings account? A)Asset,debit B)Stockholders' equity,credit C)Liability,credit D)Stockholders' equity,debit
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Question

Quizplus · Accepted Answer

Retained earnings is a component of stockholders' equity and has a normal balance of credit.

Which of the Following Describes the Classification and Normal Balance