Symbolism of Plants, Trees, and Herbs. This page is a compilation of the Symbolic Powers of the Flora Kingdom. We in no way imply or advocate that this information be used for medical or consumptive purposes.
normal account balance. Type of balance expected of a particular account based on its balance sheet classification. Normally, asset and expense accounts have debit balances, and equity, liability, and revenue accounts have credit balances. Also called normal balance.
Assets are on the left side of the accounting equation. Asset account balances should be on the left side of the accounts. In the accounting equation you can see that assets are on the left side of the equation: Earlier you learned that debit means left side. Recall our T-account that showed debits on the left side: Hence, asset accounts such as Cash, Accounts Receivable, Inventory, and Equipment should have debit balances.