Expenses decreases retained earnings; therefore, to increase any expense, one would debit the expense account
What does retained earnings mean?
Retained earnings are profits retained in the business for reinvestment and for expansion purposes, in essence, expenses would reduce the retained earnings, the higher the expenses, the lesser the retained earnings become.
From a double entry point of view, an increase in expenses would be debited to expense account and a decrease is credited instead.
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Answer
the correct answer is
Reduce taxes by $5.56 billion dollars. Increase expenditures by $5.56 billion dollars.
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This is false again this can be classified as anything
Answer:
$25,000
Explanation:
Calculation for the what is the amount of net income
Using this formula
Net income= Total Revenues-Total expenses
Let plug in the formula
Net income= 35,000+10,000
Net income=$25,000
Therefore the amount of net income will be $25,000
