income has credit balance, and credit increases income please explain this also I think expenses has credit balance but I found it confusing in my study pack has it has debit balance.
Thanks.
Ask the Tutor ACCA FA
double entry
10y ago#1Expenses and assets are always debit balances.
You really need to watch the free lectures on double-entry bookkeeping - it is impossible for me to type them all out here.
Our free lectures are a complete course for Paper F3 (you don't need a study text) and cover everything needed to be able to pass the exam well.
You can find them linked from the main Paper F3 page.
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