Improving on Dr balance on partners current account; how?

Question added by Lindani Mkhize
Date Posted: 2018/05/02

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If there is DR balance 2000 in Accrued Expense and 150000 CR balance showing in Trail balance. How will we record this on the IS and BS?
Top Answer: The income statement should show an expense of $2,000. The balance sheet should show a prepaid expense of ... See More

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What is the difference between dr and cr in accounts?
Top Answer: Hello Team, If the words "debits" and "credits" sound like a foreign language to you, you are more percep ... See More

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What is the difference between atrial balance and ledger accounts?
Top Answer: General Ledger is the one recording of transactions in a particular account head to show the actual movem ... See More

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What is the normal balance for liability accounts? debit credit?
Top Answer: Credit See More

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