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متابعة

Expenses Account is - within closing entry?

A- Debit 

B- Credit 

C- all answers are false 

 

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تم إضافة السؤال من قبل Ahmed kandil , Cost Controller , Battour Holding Cpompany
تاريخ النشر: 2016/01/10
Ahmed kandil
من قبل Ahmed kandil , Cost Controller , Battour Holding Cpompany

correct answer is B 

credit 

ayesha ayesha
من قبل ayesha ayesha , Accounts manager , south Asia media group

a debit entry is an expense account it causes owners equity credit.

Ajay T V
من قبل Ajay T V

b.credit is the expenses account in closing entry

Nasiha Abdul Nasar
من قبل Nasiha Abdul Nasar , Accountant , AL BURJ HOLDINGS LLC

expenses account is credit within closing entry

manseer muhammed ali
من قبل manseer muhammed ali , Accountant General , Royal Lighting L.L.C & Royal Furnishing LLC

Each expense account is credited and the income summary is debited for the sum of the balances of expense accounts. This will reduce the balance in income summary account.

Abdul Wasee Memon
من قبل Abdul Wasee Memon , Assistant Accounts Manager , Ahmed Group of Companies

A- Debit.........................................................

Amer Bakodah
من قبل Amer Bakodah , External Audit Intern , Grant Thornton

Every Debit has a credit if we make a T a/c 

The balance b/f will be debited and the closing entry will be credited

Answer is Credit

Muhammad Usman Zubair
من قبل Muhammad Usman Zubair , Manager Accounts -Projects , Bahria Town Construction Wing Phase-8

Option number2 is the answer

 

Yara Fouda
من قبل Yara Fouda , Finance , Schlumberger

When closing the entry its a credit.

 

Mohamed Ismail
من قبل Mohamed Ismail , Senior Accountant , NEWPOWER.SA

b-credit......................................

Dhatchina Moorthy Selvaraj
من قبل Dhatchina Moorthy Selvaraj , Accounts Supervisor , Gulf Agency Co. Qatar W.L.L

Answer is B.

ACCOUNTS DEBIT CREDIT INCOME SUMMARY XXXX   EXPENSES   XXXX

 

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