To decrease an asset such as Cash, the company will credit the Cash account for $800. Since every entry must have debits equal to credits, the company will need to debit another account for $800. In this case, the account is Rent Expense. (Eventually the debit balance in the Rent ...
The normal balance for rent expense is: a. debit. b. credit. Accounting Rules: There are three golden rules for accounting for three types of accounts. Personal Account - We will debit the receiver and credit the giver. Real Account - We debit that is coming in and credit that is goin...
Classify the Office Furniture account as a revenue, an expense, an asset, a liability, or an equity account. Is its normal balance a debit or a credit?Classify the Unearned Revenue account as a revenue, an expense...
aI would't make them do homework on Sunday 在星期天I would't使他们做家庭作业[translate] athis means an increase of expense account, and it is put to debit side 正在翻译,请等待...[translate]
In other words, prior to knowing exactly which customers or clients will not be paying, the company will debit Bad Debts Expense and will credit Allowance for Doubtful Accounts for the estimated amount. (The Allowance for Doubtful Accounts is a contra asset account that when presented along with...
In double-entry bookkeeping, expenses are recorded as a debit to an income statement account (expense account), and a credit to either an asset account or a liability account –the balance sheet accounts. An expense increases liabilities and decreases assets. ...
B.A debit to an Expense account C.A credit to Cash account D.A debit to Accounts Payable account 点击查看答案 第8题 The adjusting entry to recognize prepaid expense is necessary: (). A、When an expense is paid in advance. B、When an expense has been neither paid nor recorded as of...
C.decreases in liabilities are recorded by debits D.decreases in expenses are recorded by credits 点击查看答案 第4题 What is the accounting double entry to record the loss of inventory by fire or burglary? A、DEBIT Expense CREDIT Inventory B、DEBIT P/L a/c CREDIT Cost of sales C、DEBIT...
A. Liabilities are represented by debit balancesB. Income is included in the list of debit balancesC. Assets are represented by debit balancesD. Every debit balance represents an expense 正确答案:C 分享到: 答案解析: The correct answer is: Assets are represented by debit balances 统计:共计163...
This most closely adheres to the matching principle.Not only is a company more likely to record revenue and an expense in the same period, but this method also strives to have both revenue and expense occur when it most closely matches when the customer receives a benefit. ...