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

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ekkarill92 answered 1 year ago

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

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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?

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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...

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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.

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

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