Цій статті більше 3-х років. Українське законодавство складне і мінливе, тож на даний момент редакція не гарантує її 100% актуальність. У разі сумнівів скористайтесь пошуком, щоб читати свіжіші статті і консультації, або зверніться за допомогою до нашого ШІ-консультанта.
1. TASK: Insert the appropriate word in the text below:
Entry – exception – gain – perform – reduction – thus - whenever
Revenues and Gains Are Usually Credited
Revenues and _______ are recorded in accounts such as Sales, Service Revenues, Interest Revenues (or Interest Income), and Gain on Sale of Assets. These accounts normally have credit balances that are increased with a credit _______ .
The __________ to this rule are the accounts Sales Returns, Sales Allowances, and Sales Discounts—these accounts have debit balances because they are __________ to sales. Accounts with balances that are the opposite of the normal balance are called contra accounts; hence contra revenue accounts will have debit balances.
__________ cash is received, the asset account Cash is debited and another account will need to be credited. Since the service was ________ at the same time as the cash was received, the revenue account Service Revenues is credited, ____________ increasing its account balance.
2. CHECK YOUR SPEAKING
|
entry |
[ ˈentri ] |
запис |
|
exception |
[ ɪkˈsepʃn ] |
виключення |
|
gain |
[ ɡeɪn ] |
приріст капіталу |
|
perform |
[ pəˈfɔːm ] |
виконати |
|
reduction |
[ rɪˈdʌkʃn ] |
скорочення |
|
thus |
[ ðʌs ] |
таким чином |
|
whenever |
[ wenˈevə(r) ] |
всякий раз, коли |
3. SEE CORRECT ANSWER
Revenues and Gains Are Usually Credited
Revenues and gains are recorded in accounts such as Sales, Service Revenues, Interest Revenues (or Interest Income), and Gain on Sale of Assets. These accounts normally have credit balances that are increased with a credit entry.
The exceptions to this rule are the accounts Sales Returns, Sales Allowances, and Sales Discounts—these accounts have debit balances because they are reductions to sales. Accounts with balances that are the opposite of the normal balance are called contra accounts; hence contra revenue accounts will have debit balances.
Whenever cash is received, the asset account Cash is debited and another account will need to be credited. Since the service was performed at the same time as the cash was received, the revenue account Service Revenues is credited, thus increasing its account balance.
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в підручнику “Practical Financial English”
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