Which of the Following Accounts Has a Normal Debit Balance

question 64

Multiple Choice

Which of the following accounts has a normal debit balance?

• A) Wages Payable
• B) Fees Earned
• C) Rent Expense
• D) Common Stock

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Definitions:

Work In Process-Department X

The costs assigned to products that are in the middle of the manufacturing process within a specific department but are not yet completed.

Goods In Process

Inventory items that are partially completed; they have been started in production but are not yet finished goods.

Process Cost Accounting System

A method of accounting used to track and allocate costs associated with the production process.

Factory Overhead

All indirect costs involved in manufacturing, excluding direct materials and direct labor; includes items like utilities and salaries for managers.