While it's a credit to your account, it's a debit to the Salary & Remuneration account of your Employer.
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
does net income have a normal debit or credit balance
debit owners capitalcredit drawings account
No, Interest Revenue is income and would normally have a credit balance.
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.
Expenses maintain a debit balance. They are opposite accounts to Revenue which maintains a credit balance. Gross Income (Gross Revenue) - Expenses = Net Income
does net income have a normal debit or credit balance
debit owners capitalcredit drawings account
wages is expense and expense is debit salary is income and income is credit
No, Interest Revenue is income and would normally have a credit balance.
Credit
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.
Drawings A/c (debit) TO Asset A/c (credit)
credit
Revenue is income or a credit.
If dividend income received: Debit Cash / bank Credit Dividend income If dividend income receivable: Debit Dividend income receivable Credit Dividend income
[Debit] Cash / bank [Credit] Fee income