Question

In: Accounting

Indicate the effect each account has on retained earnings. (increase, decrease, or no effect) a)advertising expense...

Indicate the effect each account has on retained earnings. (increase, decrease, or no effect)

a)advertising expense

b)Service revenue

c) Insurance expense

d) Salaries & Wages Expense

e) Dividends

f) Rent revenue

g) Utilities Expense

Solutions

Expert Solution

a) advertising expense - decrease as it is an expense

b) Service revenue - increase as it is income

c) Insurance expense - decrease

d) Salaries & Wages Expense - decrease

e) Dividends - decrease

f) Rent revenue - increase

g) Utilities expense - decrease

ekkarill92 answered 2 years ago
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