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When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!
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When does a revenue account have a debit balance?
When your expenses are more than your revenues, the revenue account will be a debit balance. You have lost money!
Is the decrease in revenue a debit?
Default balance for revenue is credit balance so to reduce a revenue account it must be something with debit balance so debit is a decrease in revenue.
Does a revenue account normally have a debit balance?
No. A revenue account should always show a credit balance.
Is service revenue a debit?
Revenues has credit balance as default balance and as services revenue is also a revenue account it means it should have credit balance as well and not a debit balance.
Is sales a debit balance?
Sales is a revenue account and like all revenue accounts sales also has credit balance as normal balance and cash or accounts receivable are debit against it.
Did debit entry decreases the balance of an account?
No, a debit entry does not decrease the balance of an account; it actually increases the balance of asset and expense accounts. Conversely, for liability, equity, and revenue accounts, a debit entry decreases the balance. Therefore, whether a debit increases or decreases an account balance depends on the type of account involved.
Is admission revenue credit or debit in balance sheet?
Credit side of balance sheet.....Revenue is an Owners Equity account therefore has a Credit Balance.
Is performed services a credit or debit?
Performed services is a revenue account and revenue account has credit balance as normal default balance so services performed also has credit balance.
What account have normal debit balance?
all fixed assets a/c have a debit balance normally
What is a normal balance account of a Sales discount?
Sales discount account has debit balance as it causes the reduction of sales and hence a contra account of sales revenue account.
Do revenues have a credit or debit balances?
Revenue is an Owners Equity account therefore has a Credit Balance:
Is sales a credit or debit?
Sales is a revenue account and all revenues has credit balance as default balance so sales also has credit as default balance while cash or accounts receivable will be debited against it.
