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.
The basic accounting formula is assets minus liabilities equal equity, which means that the equity section of the balance sheet represents the assets your company holds net of any outstanding liabilities. You can also think of this as the companyâs net worth.