Unit 5
Accounting and Finance Foundations Unit 5: Accounting Terminology 362
Accounting Terminology Student Guide
Chapter 14
Normal Balance SheetLesson 14.3
Use this as a guide to help you learn the Normal Balances of accounts.
Normal Balance Worksheet
Assets = Liabilities + Owner’s Equity
Cash, Prepaid Ins., Supplies, Acct. Rec.
or any other asset
ANY ASSET
Debit Credit
Increase Decrease
NB
+ –
Capital
Debit Credit
- NB
Any Liability (Acct.Pay.)
Debit Credit
- NB
Sales (Rev.) Affects OE
Rec.cash, sold services
Debit Credit
- NB
Expenses and Withdrawal
Affect OE–
Debit Credit
+ –
NB
Name: _____________________________________________________ Date: ___________________