Does an accrual revenue normally have a debit or a credit balance? Please elaborate.

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ekkarill92 answered 2 years ago

Does an accrual normally have a debit or a credit balance? Please elaborate.

Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial...

Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial balance(credit) Cash 32,236.75 32,236.75 baking supplies 18,500 18,500 merchandise inventory(fifo) 175.65 175.65 prepaid rent 1500 1500 prepaid insurance 2400 2400 baking equipment 6000 6000 accumulated depreciation 208.33 208.33 office supplies 600 600 accounts receivable 7700 7700 notes payable 10,000 10,000 wages payable 480 480 common stock 16,000 16,000 dividends 10,000 10,000 bakery sales 55,000 55,000 merchandise sales 221 221 baking supplies expense rent expense...

The Revenue account balance of $42 000 was listed on the trial balance as a debit....

The Revenue account balance of $42 000 was listed on the trial balance as a debit. How much is the balance sheet off by, and is the debits more than the credits?

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 7,200 units, 4/5 completed 12,528 31 Direct materials, 129,600 units 168,480 181,008 31 Direct labor 49,490 230,498 31 Factory overhead 27,838 258,336 31 Goods finished, 131,400 units 249,372 8,964 31 Bal. ? units, 3/5 completed 8,964 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1 Bal., 24,000 units, 3⁄4 completed 116,700 31 Direct materials, 134,000 units 234,500 351,200 31 Direct labor 150,000 501,200 31 Factory overhead 375,000 876,200 31 Goods finished, 128,000 units 760,700 115,500 31 Bal., ? units, 1⁄2 completed 115,500 a. Based on the above data, determine each cost listed below. Round "cost per equivalent unit" answers to the nearest cent. 1. Direct materials cost per equivalent...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1 Bal., 4,800 units, 2/5 completed 11,232 31 Direct materials, 86,400 units 172,800 184,032 31 Direct labor 50,600 234,632 31 Factory overhead 28,456 263,088 31 Goods finished, 87,600 units 253,944 9,144 31 Bal. ? units, 3/5 completed 9,144 The following information concerns production in the Baking Department for March. All direct materials are placed in process at the beginning of production. a. Based on the...

General Ledger Cash Account No. 111 Post. Balance Date Item Ref. Debit Credit Debit Credit 20xx...

General Ledger Cash Account No. 111 Post. Balance Date Item Ref. Debit Credit Debit Credit 20xx Balance June Accounts Receivable Account No. 113 Post. Balance Date Item Ref. Debit Credit Debit Credit 20XX Balance — June — — — — Office Supplies Account No. 115 Post. Balance Date Item Ref. Debit Credit Debit Credit 20XX Balance — June — — Pre-paid Rent Account No. 117 Post. Balance Date Item Ref. Debit Credit...

If the totals of the adjusted trial balance Debit and Credit columns are equal, but the...

If the totals of the adjusted trial balance Debit and Credit columns are equal, but the post closing trial balance does not balance, what is the likely cause of the problem? Answer in a 100 word or more.

For each of the following accounts, signify DEBIT or CREDIT to indicate the normal balance of...

For each of the following accounts, signify DEBIT or CREDIT to indicate the normal balance of the account. 1 Accounts recievable Multiple Choice Answer Options: 2 Credit card expense a. Credit 3 bad debt expense b. Debit 4 allowance for doubtful debts 5 Notes receivable (due in 180 days) 6 interest revenue 7 depreciation expense 8 building 9 equipment 10 accumulated depreciation 11 Loss of disposal of equipment 12 Gain on disposal of equipment 13 Sales revenue 14 Patent 15...

U.S. foreign aid a debit in the balance of payments what is the offsetting credit

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Does an accrual revenue normally have a debit or a credit balance? Please elaborate.

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Does an accrual normally have a debit or a credit balance? Please elaborate.

Account Unadjusted trial balance(debit) Unadjusted trial balance(credit Adjusting entries(debit) adjusting entries(credit) adjusted trial balance(debit) Adjusted trial...

The Revenue account balance of $42 000 was listed on the trial balance as a debit....

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Dec. 1...

ACCOUNT Work in Process—Baking Department ACCOUNT NO. Date Item Debit Credit Balance Debit Credit Mar. 1...

General Ledger Cash Account No. 111 Post. Balance Date Item Ref. Debit Credit Debit Credit 20xx...

If the totals of the adjusted trial balance Debit and Credit columns are equal, but the...

For each of the following accounts, signify DEBIT or CREDIT to indicate the normal balance of...

U.S. foreign aid a debit in the balance of payments what is the offsetting credit