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No. A revenue account should always show a credit balance.
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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.
What account have normal debit balance?
all fixed assets a/c have a debit balance normally
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
Does interest revenue have a normal debit balance?
No, Interest Revenue is income and would normally have a credit balance.
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!
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.
What account have normal debit balance?
all fixed assets a/c have a debit balance normally
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.
Does inventory account have a normal debit balance?
Inventory is an asset account. They normally have a debit balance.
Does interest revenue have a normal debit balance?
No, Interest Revenue is income and would normally have a credit balance.
Which account would be closed by posting a debit to the account?
The closing process seeks to reduce the balance of each account that needs to be closed to zero; therefore, the closing entry must reverse whatever balance the account already has. This means that any (temporary) account that normally has a credit balance will be closed by posting a debit (and vice-versa). Revenue is an example of an account that must be closed with a debit, since it is normally a credit account.
A balance of a prepaid expence account is normally DEBIT OR CREdit?
Prepaid Expenses would normally have a debit balance.
What is the normal balance of a cash account?
Cash account normally has 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.
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
