Which of the following describes the classification and normal balance of H. Gale, Capital?
A) Asset, debit
B) Revenue, credit
C) Owner's equity, debit
D) Expense, debit
E) None of these

Question

Quizplus · Accepted Answer

H. Gale, Capital is an owner's equity account, which normally has a credit balance, not a debit balance. None of the provided options correctly describe its classification and normal balance.

Which of the Following Describes the Classification and Normal Balance