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Which tax accounts for about 50 percent of all federal revenue?
Wiki User
∙ 12y ago
income tax
Wiki User
∙ 12y ago
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Is revenue a cash or debit?
Revenue is always credit as all revenue accounts has credit balance as normal balance and cash received or accounts receivable is debit against it.
What is normal balance of a revenue?
All revenue accounts has credit balance as a normal balance
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Which accounts are closed in the closing entries?
Closing entries close out your temporary or "income statement" accounts, as well as your dividends paid account. All of your revenue accounts increase your retained earnings, expense accounts decrease retained earnings, and dividends paid decrease retained earnings.
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.
Is revenue a cash or debit?
Revenue is always credit as all revenue accounts has credit balance as normal balance and cash received or accounts receivable is debit against it.
What is normal balance of a revenue?
All revenue accounts has credit balance as a normal balance
What is the normal balance of rent revenue?
Rent is a revenue account and like all revenue accounts it has credit balance as normal balance.
Is service revenue a debit or cedit?
Services revenue is also a revenue and like all revenue accounts which have credit balance as normal balance, services revenue also has a credit 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.
Largest source of revenue for the federal government?
The largest source of revenue for the federal government has been individual income taxes and payroll taxes. These taxes account for 82% of all federal government income.
The federal income tax accounts for nearly 50percent of all federal tax revenues?
TRUE
What accounts for 90 percent of all hypertension?
Essential Hypertension
In what federal body do all bills concerning taxes and revenue originate?
The House of Rep.
In what Federal body do all bills concerning taxes revenue originate?
They start in the House.
Does the sun accounts for 75 percent or 99 percent of all the matter in the solar system?
In fact, the Sun accounts for over 99.8% . Most of the rest is contained in Jupiter.
What accounts are in net income?
Included in net income are the following: 1. All revenue-related accounts, e.g. Sales, service revenue, interest income, rental income, etc. 2. All expense-related accounts, e.g. Purchases, Depreciation, Rental expense, Maintenance expense, Amortization, Utilities expenses, etc. Net income = Revenues - Expenses
