Why are the following items listed as a DR?  Aren't they CR accounts?  Exp;enses are CR accounts aren't they since they reduce assets?Income StatementSales and Labor Revenue                                                 $1,592,430Cost of Goods                                                                   $762,200Gross Profit                                                                       $ 830,230 Operating Expenses:Salary Expense                               $337,425Depreciation Expense                      $44,500 Tax Expense                                      $30,200Insurance Expense                           $22,000Office Expense                                   $3,050Miscellaneous Expense                      $9,730Total Expenses                                                                   $446,905                                                                                           $383,325

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Asked Oct 26, 2019
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Why are the following items listed as a DR?  Aren't they CR accounts?  Exp;enses are CR accounts aren't they since they reduce assets?

Income Statement


Sales and Labor Revenue                                                 $1,592,430
Cost of Goods                                                                   $762,200
Gross Profit                                                                       $ 830,230
Operating Expenses:
Salary Expense                               $337,425
Depreciation Expense                      $44,500
Tax Expense                                      $30,200
Insurance Expense                           $22,000
Office Expense                                   $3,050
Miscellaneous Expense                      $9,730
Total Expenses                                                                   $446,905
                                                                                           $383,325

 

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Expenses are the payments that a company made to acquire something or for the benefit of the c...

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