Ask Experts Questions for FREE Help !
Ask
    woolyb's Avatar
    woolyb Posts: 6, Reputation: 1
    New Member
     
    #1

    Feb 15, 2011, 05:49 PM
    Assets and Liabilties
    Interestingly, assets have a debit balance and liabilities and capital are credit balances. Yet, expenses have debit balances and revenue- a credit balance. Can you explain the reason for this, with an example.

Check out some similar questions!

Determine the amount of total assets, current assets noncurrent assets [ 1 Answers ]

Determine the amount of total assets, current assets, and noncurrent assets at the end of the period, given the following data: Current liability, ending balance $50,000 Current ratio, ending 1:6:1 Owners’ equity, beginning balance $120,000 Inventory, beginning balance $ 35,000 ...

How to find Total Liabilties, Total Stockholder's Equity? [ 0 Answers ]

Net Income $765 Net Sales $36,762 Profit Margin 2.1% Net Sales $36,762 Average Total Assets ($15,719 + $16,078) divided by 2 = $15,898.5 Asset Turnover 2.3 times Net Income $765 Average Total Assets (from...

Is patents ( Intangible assets) added in total assets on balance sheet [ 2 Answers ]

Is the patents (Intangible assest)amount added to the current assets amount on a balance sheet. Help Thanks


View more questions Search
 

Question Tools Search this Question
Search this Question:

Advanced Search

Add your answer here.