ACCT 284 at Iowa State University

3. Determining Normal Balances For Assets & Liabilities

in Topic 3 (Video 3 of 7)
A "normal" balance just means what side of the account the increases go on. Here we're going to determine normal for Assets and Liabilities.

This Video Mentioned Some Formulas

Assets = Liabilities + Shareholder's Equity (Or Owner's Equity)

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