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Revenue or Expense | Debit | Credit |
---|---|---|
Revenues: | ||
Service Revenue | The revenue acounts are always listed first and then subtotaled if necessary.
|
|
Expenses: | ||
Rent Expense | Each expense account is listed separately from largest to smallest and then subtotaled if necessary. |
|
Salaries Expense | 1,200 | |
Total Expenses | 3,200 | |
Net Income | Net income is calculated as total revenues minus total expenses. |
Revenue or Expense | Debit | Credit |
---|---|---|
Revenues: | ||
Service Revenue | ||
Expenses: | ||
Rent Expense | ||
Salaries Expense | 1,200 | |
Total Expenses | 3,200 | |
Net Income |
Debit | Credit |
---|---|
Clos. 4 5,000 | 0 Adj. Bal. |
8,550 Clos. 3 | |
3,550 Bal. |
Debit | Credit |
---|---|
Adj. Bal. 5,000 | 5,000 Clos. 4 |
Bal. 0 |
Debit | Credit |
---|---|
Clos. 2 8,950 | 17,500 Clos. 1 |
8,550 Bal. | |
Clos. 3 8,550 | |
0 Bal. |
Debit | Credit |
---|---|
Clos. 1 17,500 | 17,500 Adj. Bal. |
0 Bal. |
Debit | Credit |
---|---|
Adj. Bal. 3,000 | 3,000 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 4,800 | 4,800 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 400 | 400 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 100 | 100 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 250 | 250 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 300 | 300 Clos. 2 |
Bal. 0 |
Debit | Credit |
---|---|
Adj. Bal. 100 | 100 Clos. 2 |
Bal. 0 |