Another Question Go to Table of Contents 3a. Revenues go in the credits and expenses go in the debits. Another Question Go to Table of Contents 3b. Either a debit or credit balance is possible and expected. Another Question Go to Table of Contents 3c.
Revenues are more than expenses.
Another Question Go to Table of Contents 3d. Actually, when the Income Summary account is closed, if it had a credit balance, the Capital account will increase. Another Question Go to Table of Contents 4a. Withdrawals carries a debit balance. Another Question Go to Table of Contents 4b.