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No all revenues has credit balance as default balance while all expenses has debit balance as default normal balance.
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Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
What is the journal entry for warranty expense charged against the revenue?
Debit Warranty Expense Credit Warranty Liability
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
The account type and normal balance of prepaid expenses?
1. asset, debit 2. expense, debit 3. revenue, credit 4. liability, credit which one of them???
What is the sale of merchandise by a company on its own credit card that may result in a debit to service charge expense?
credit to interest revenue
Is expense debit or credit?
If revenue (income of money) is a credit, then an expense (outflow of money) is a debit.
Is utilities expensive debit or credit?
If revenue (income of money) is a credit, then an expense (outflow of money) is a debit.
Is rent expense credit or debit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
What is the journal entry for warranty expense charged against the revenue?
Debit Warranty Expense Credit Warranty Liability
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
Is rent expense is credit?
As all expenses has debit balance as normal balance and rent is also expense then rent expense also has debit balance and shown in income statement as a reduction from revenue.
The account type and normal balance of prepaid expenses?
1. asset, debit 2. expense, debit 3. revenue, credit 4. liability, credit which one of them???
What is the sale of merchandise by a company on its own credit card that may result in a debit to service charge expense?
credit to interest revenue
Is revenue a credit or debit?
Revenue is income or a credit.
Is a service revenue a credit or debit?
Service Revenue is credit in nature because it is an income.
Is an insurance expense a debit or credit?
Debit
Is rent expense a debit or credit?
debit
