Global Commerce Classes

Happy Teachers Day! 🙏

Today, we celebrate the legacy of **Dr. Sarvapalli Radhakrishnan**, a brilliant scholar, visionary leader, and above all, a remarkable teacher.

His dedication to education and his belief in the transformative power of knowledge continue to inspire generations. Let us remember his words: "Teachers are the backbone of any society. They mold the future."

On this Teacher's Day, let's express our gratitude to all the incredible teachers who have touched our lives. Their unwavering commitment to nurturing young minds is truly invaluable.

Admission is opened for the new Batch of Class 11th (Commerce) for the session of 2024-25 and Classes are going to start from 15 April 2024.

For Admission enquiry, Call: 081028 62700

Question Of the day:

Question of the day:

Hum UPSC Aspirants hai. Hamara man or moun bahoot K*m log hi samajh pate hai.

Commerce is just not only a subject, it is a passion and Global Commerce Classes is the best way to achieve the passion...
So Join us if you Aspire To Do Big. 👍💯

Global Commerce Classes की तरफ से आप सभी को स्वतंत्रता दिवस की हार्दिक शुभकामनाएं....

Admission open for B.com ( Part-1) and the classes is going to start from 4 of July, 2023.

📌 NORMAL BALANCES OF ACCOUNTS

The normal balances of accounts in accounting refer to the side (debit or credit) where increases in the account are recorded. Here are the normal balances for common types of accounts:

1. Assets:
- Debit: Increases in assets are recorded on the debit side. Examples include cash, accounts receivable, inventory, and equipment.

2. Liabilities:
- Credit: Increases in liabilities are recorded on the credit side. Examples include accounts payable, loans payable, and accrued expenses.

3. Equity:
- Credit: Increases in equity accounts such as common stock, retained earnings, and owner's capital are recorded on the credit side. However, certain equity accounts like drawings or dividends may have a debit balance.

4. Revenue:
- Credit: Revenue accounts, such as sales revenue and service revenue, have a credit balance. Increases in revenue are recorded on the credit side.

5. Expenses:
- Debit: Expenses, such as salaries, rent, utilities, and supplies, have a debit balance. Increases in expenses are recorded on the debit side.

It's important to note that while these are the general rules, there may be exceptions or variations depending on the specific accounting standards or industry practices. Additionally, contra accounts (accounts that offset other accounts) may have normal balances opposite to their corresponding accounts.

Follow Accounting Knowledge Concepts

Test your Accounting:

Test your Accounting :