Accrued Expense Journal Entry: Debit or Credit If an accrued expense is incurred and recognized, the initial journal entry is as follows. Employee Payroll Account ➝ Debit Accrued Wages ➝ Credit For example, suppose we’re accounting for an accrued rental expense of $10,000. The initial ...
Please note: The introductory example shown below excludes the journal entry. To see the debit and credit journal entry for this cash expense transaction (with detailed explanations), check out the tutorial Expense Journal Entry.George's Catering business stood as follows:...
因为expense和cost of goods sold前面是自带负号的啊，虽然equity本身normal balance在credit那边，但有负号...
资产和成本费用（借方余额）和收入、负债与所有者权益（贷方余额）销售收入，工资都属于ILE 销售收入属于ILE，办公室租赁费属于AE，广告和促销费属于AE。
What is the debit/credit effect of a prepaid expense adjusting entry? How does salaries and wages payable appear on income statement? How can one record a cash advance to an employee and deduction? Is a loan payment considered an expense? Explain. ...
These two entries must balance each other out. If, for example, you have a debit of $1,000 from the purchase of a new computer, you would then create an equal credit for the asset of the computer. This system of having a balance is called double-entry accounting and has been around ...
When recording a transaction, everydebitentry must have a correspondingcreditentry for the same dollar amount, or vice-versa. Let’s give an example, using the Stonemill company again. Stonemill reaches the end of August, and its employees have done work that they have not yet been paid for...
Sales是销售额，是进来的，当然是credit呀。cost of goods sold和expenses都是出去的钱，当然是debit了...
When recording a transaction, every debit entry must have a corresponding credit entry for the same dollar amount, or vice-versa. Let’s return to Anderson Autos for an example. Mr. Anderson pays $1904.00 in total subscriptions in November. Again, he hasn’t received a single magazine or ne...
Q3. Is accrued expense a credit or debit? Answer:The generally accepted accounting principle is that accrued expense should be recorded as debits. This is because when an expense is incurred, it represents a decrease in the company’s assets. However, some accountants argue that it should be ...