Question: some accounts decrease with a debit and some decrease with a credit. what makes the revenue account go down

some accounts decrease with a debit and some decrease with a credit. what makes the "revenue" account go down

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

please solve all the problems. Format Tools Data Window Help Espinal Mineis-ACP Excel File Edit View Insert BU Home insert Draw Page Layout Formulas Data Review View A- So Wrap Text B A aste Merge &...

Q:

PLEASE HELP WITH THESE ACCOUNTING QUESTIONS 1. Let's look at the Xerox' scandal in a simple accounting scenario. Use this mock trial balance in Excel with only the following accounts: a. Accounts...

Q:

The journal entry to close the Fees Earned, $136, and Rent Revenue, $41, accounts during the year-end closing process would involve! a. a credit to a general revenue account Ob. debits to the two...

Q:

Karla Tanner opens a web consulting business called Linkworks and completes the following transactions in its first month of operations. Prepare journal entries for each transaction and identify the...

Q:

Question 1: Who is required to follow GAAP? Question 2: Who creates the rules for GAAP? Question 3: What is the purpose of GAAP? Questions 4-6: Show how the following transactions would affect the...

Q:

1 .Choose all the accounts below that would be INCREASED by a DEBIT entry to the account. Group of answer choices Assets Dividends Capital Contributions Revenues Contra Assets Losses Expenses...

Q:

I seriously need help on the following: Accounting in Action: CM2 With the books closed for the prior year (thanks to your work), the four CM2 owners are meeting to discuss what they expect to happen...

Q:

Old MathJax webview What do adjusting entries affect? See slide #6 Calculate Profit Margin. slide 29 What is the journal entry for buying a prepaid expense like PP Insurance? slide 10 and 11 What 2...

Q:

Oct. 1 James Coronado begins business as a real estate agent with a cash investment of $19,500. Hires an administrative assistant 2 Purchases office furniture for $2,470, on account. 3 6 Sells a...

Q:

Taxes Attached Files: C&M Financials.xls (252 KB) Accounting in Practice: C&M When you arrive at C&M for the afternoon, Conner and Martin are arguing with Lopez and Knepp about, of all things, the...

Q:

Gallant Company reported net income of $2,500,000. The income statement included one extraordinary item: a $500,000 gain from condemnation of land and a $200,000 loss on discontinued operations, both...

Q:

Suppose Y is the set of all 3 3 symmetric matrices (Definition SYM). Find a set T so that T is linearly independent and (T) = Y.

Q:

Sunland Industries incurs unit costs of ( variable and fixed ) in making an assembly part for its finished product. A supplier offers to make 1 3 , 4 0 0 of the assembly part at per unit. If the...

Q:

Hugo decides to buy his Christmas gifts on Black Friday. To simplify his life, he is giving his 10 closest friends scarves for Christmas and everyone else Christmas cards. Hugo is willing to pay up...