0
credit
Wiki User
∙ 11y ago
Add your answer:
Earn +20 pts
Is commission received debit?
Commission received in income and cash is actually received so cash is always debit and commission is credit against cash as all incomes have credit balance as default balance.
Does commission have a balance sheet or income statement account?
If commission is already received or paid then it is income statement item, but if it is still receivable or payable then it is balance sheet item, simple commission is a income statement item
Is net income a debit or credit?
does net income have a normal debit or credit balance
Is accrued expenses a debit or credit balance?
Debit in your Income statement credit in your balance sheet.
Which type of account has a normal credit balance?
All liabilities as well as income accounts has normal credit balance and also profit has credit balance.
Is commission received debit?
Commission received in income and cash is actually received so cash is always debit and commission is credit against cash as all incomes have credit balance as default balance.
Does commission have a balance sheet or income statement account?
If commission is already received or paid then it is income statement item, but if it is still receivable or payable then it is balance sheet item, simple commission is a income statement item
Is Fees income a credit or debit balance?
credit
Is earned income nomal balance a debit?
All incomes has credit balance as a default normal balance so earned income also has credit balance as default normal balance.
Is net income a debit or credit?
does net income have a normal debit or credit balance
Is accrued expenses a debit or credit balance?
Debit in your Income statement credit in your balance sheet.
Is net income recorded on the worksheet in the Income Statement Debit column and the Balance Sheet Credit column?
debit column of the income statement and the credit column of the balance sheet.
Which type of account has a normal credit balance?
All liabilities as well as income accounts has normal credit balance and also profit has credit balance.
Where does sales commission payable go on the multiple step income statement?
Sales commission payable is not part of income statement and it is shown in balance sheet as current liability in liability side of balance sheet.
What Is a listing of all the balance sheet and income-related accounts?
chart of accounts
Does an expense normally have a credit or debit balance?
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
Do expenses have credit or debit?
All expenses has debit balance as normal default balance while all income has credit balance as normal default balance.
