Question.4337 - Week 3 Discussion Questions (Initial post due by Wednesday and reply to two of your classmates by Sunday before midnight)Class, Please answer the following question and read the rubric (do not submit word file or excel file)If assets are valuable resources and asset accounts have debit balances, why do expense accounts also have debit balances? If an incorrect amount is journalized and posted to the accounts, how should the error be corrected?APA FormatDownload APA FormatAPA WebsiteLinks to an external site. Example of citation and reference:The purpose of accounting is to provide decision-makers with relevant and reliable information to help them make better decisions (Wild and Shaw, 2018). Examples include information for people making investments, loans, and business plans.Reference:Wild, J. J., & Shaw, K. W. (2018). FUNDAMENTAL ACCOUNTING PRINCIPLES. New York, NY: MCGRAW.-HILL EDUCATION.
Answer Below:
There are differences as to why both accounts have debit balances. Asset accounts are easily described as valuable resources that a company has, like...
There xxx differences xx to xxx both xxxxxxxx have xxxxx balances xxxxx accounts xxx easily xxxxxxxxx as xxxxxxxx resources xxxx a xxxxxxx has xxxx cash xxxxxxxxx buildings xx equipment xxx things xxxx can xxxx great xxxxx Asset xxxxx accounts xxxx debit xxxxxxxx because xxxxxxxxx always xxxxxx debit xxxxxxxxxxx to xxx specific xxxxx This xxxxx to xxxx track xxx increase xxx value xx the xxxxx An xxxxxxx account xxx be xxxxxxxxx as xxx a xxxxxxxx company xxxxx track xx their xxxxxxxx during x period xx time xxxxx have xxxxx balances xxxxxxx this xx how xxxxxxxx are xxxxxxxxxx in xxx business xxxxx This xx tracked xxx is xxx companies xxxx their xxxxxxx in xxx end xxxxxx debit xxxxxxxx for xxxx helps x company xxx value xx their xxxxx and xxxxx track xx expenses xxxxxxxxxx to xxxxxxx Incorrect xxxxxxx journalized xxx be xxxxx There xx a xxx that xxx can xxxxxx the xxxxxx written xxxxxxxxxx the xxxxxxx You xxx simply xxxxxxx the xxxxxxxxx entry xx making xx equal xxx opposite xxxxx This xx known xx a xxxxxxx Entry xxxxxxxx This xx just xxx setting xxx wrong xxxxx instead xx crossing xxxxxx out xxx making xxxxxx seem xxxxxxxxxxx This xx very xxxxxxxxx to xxxx so xxxxxxxx stay xxxxxx and xxx business xxxxxxxxxxxx can xx properly xxxxxxxxxx Reference xxxxx Guillory xxx Technology xxxxx Fresh xxxxx How xx Correct xxxxxxxxxx Errors-and xx the xxxx Common xxxxxPaying someone to do your accounting assignment has become a practical solution for students managing tight deadlines, academic pressure, and personal responsibilities. Today’s education system demands accuracy, originality, and timely submission, which can be difficult when multiple assignments overlap. Professional academic assistance helps students meet these expectations without unnecessary stress.
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