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Q. What is credit balance?
If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an Accounts Payable account with a total of USD 10000 in debits and USD 13000 in credits. The account contained a credit balance of USD 3000 as shown in the following T-account Normal balances ever since debits increase expense, asset and dividend accounts they usually have debit or left-side balances. On the contrary for the reason that credits increase retained earnings, liability capital stock and revenue accounts they normally have credit or right-side balances.
If a customer payment data was lost and needed to be reconstructed what are some of the ethical considerations the business owner would need to consider? This may include internal
1. Mama's Fried Chicken bought equipment on January 2, 2010, for $15,000. The equipment was expected to remain in service 4 years and to perform 3,000 fry jobs. At the end of the
Why is it important for accounting information to be accurate and timely?
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every
#How to make journal entries?
On Aug 14th, One of our Partner's ( Compuville ) cash book showed a debit balance of $4,000.00. His bank statement showed a balance of $4,270.00. On comparison the following we
is money deposited to the municipality for electricity current assets
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A store receives $400 cash after offering a chain discount of 10/10/5 on a good. What was the list price? A. $492.20 B. $519.82 C. $533.33 D. $612.00
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