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If revenue (income of money) is a credit, then an expense (outflow of money) is a debit.
What else can I help you with?
What is the Journal Entry if a company paid cash for this months utilities?
Debit Utilities expense Credit Cash
Is utilities a debit or a credit?
If you are referring to a utility bill, such as electric or water, that would be a liability.
If gas accrual in Jan 15.00 Feb 15.00 and March 12.00 paid gas bill in march for Jan 25 What are your journal entries for Jan feb march including reversals of accruals accounts payable and payment?
Jan - Debit Utilities Expense $15 Credit Accrued Expenses $15, Jan accrual. Feb - Debit Utilities Expense $15 Credit Accrued Expenses $15, Feb Accrual March - Debit Utilities Expense $12 Credit Accrued Expenses $12, Mar Accrual Feb or March (when bill is received) - Debit Utilities Expense $25 Credit Accounts Payable $25, record gas bill. and Debit Accrued Expenses $15 Credit Utilities Expense $15, reverse Jan accrual. March - Debit Accounts Payable $25 Credit Cash $25, record Check #? (could be posted in Cash Disbursements Journal).
Is prepaid insurance a debit or credit?
Debit
During the month 900 of utilities expense was incurred on accounts by the business what is the account title for that transaction?
1. [Debit] Utility Expenses 900 [Credit] Cash / bank 900
Does cash on hand have a debit or credit balance?
credit
Is cost of sale credit or debit?
Credit or debit
Is a refund to a credit card a debit or credit?
Debit
What are the rules of debit and credit for assets?
There are three rules for recording transactions: Personal account Debit the receiver. Credit the giver. Real account Debit what comes in. Credit what goes out. Nominal account Debit all expenses.There are three Golden Rules for Debit & Credit, whole accounting is depend on these three rules :- 1. Debit what comes in & Credit what goes out. 2. Debit the receiver & Credit the..Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Why is it important to memorize the debit and credit rules?
Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
Is drawing debit or credit?
its debit.
How do you post a debit or a credit?
debit is the receiver,credit is the giver
