Several accounts from the financial records of Wynn Linders, Inc. are listed. Indicate its normal balance and the debit/credit rules for increasing the account. (Choices may be used more than once.)
-Common Shares

Question

Quizplus · Accepted Answer

Common Shares have a normal credit balance, and credits increase the balance in the account. This is because common shares represent equity in a company, and increases in equity are recorded as credits.

Several Accounts from the Financial Records of Wynn Linders, Inc