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Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance.
Gross Income (Gross Revenue) - Expenses = Net Income
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What accounts will normally maintain a credit balance prepaid taxes interest income rent expense equipment?
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Is depreciation allowed a debit or credit?
Depreciation is expense and like all other expense it also has debit balance as default balance and all revenues has credit balance as default balance.
Does repair and maintenance have a debit or credit balance?
Repair and Maintenance would be an "expense" all expense maintain a debit balance.
Does an advertising expense has a credit or debit balance?
All expenses debit (-)
Are salaries expense debit or credit?
Expenses have a normal debit balance.
Expenses are to be debit or credit?
An Expense would normally have a debit balance.
What accounts will normally maintain a credit balance prepaid taxes interest income rent expense equipment?
Prepaid taxes and equipment are asset accounts, so would normally have a debit balance. Rent expense is an expense account, so would normally have a debit balance. Liability, equity, and income accounts normally have credit balances.
Is depreciation allowed a debit or credit?
Depreciation is expense and like all other expense it also has debit balance as default balance and all revenues has credit balance as default balance.
Does repair and maintenance have a debit or credit balance?
Repair and Maintenance would be an "expense" all expense maintain a debit balance.
Does an advertising expense has a credit or debit balance?
All expenses debit (-)
Are salaries expense debit or credit?
Expenses have a normal debit balance.
Is an increase in rent expense a credit?
Rent expense has a debit balance as a normal balance so increase in rent will be shown by debit to rent expense.
Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
is revenue debit and expense credit?
No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.
Is contributed capital normally a credit or debit balance?
it is a credit balance
Is rent expense is credit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
