{"id":5819,"date":"2023-02-27T01:51:32","date_gmt":"2023-02-27T01:51:32","guid":{"rendered":"https:\/\/www.goodacademic.com\/blog\/questions\/chapter-discussion-must-be-130-words-long\/"},"modified":"2023-02-27T01:51:32","modified_gmt":"2023-02-27T01:51:32","slug":"chapter-discussion-must-be-130-words-long","status":"publish","type":"questions","link":"https:\/\/www.goodacademic.com\/blog\/questions\/chapter-discussion-must-be-130-words-long\/","title":{"rendered":"chapter discussion MUST BE 130 WORDS LONG"},"content":{"rendered":"<div class=\"col-sm-12 messageContent\">\n <b>Learning Goal: <\/b>I&#8217;m working on a accounting discussion question and need the explanation and answer to help me learn.<\/p>\n<p>The normal balance in an asset account is a debit. It\u00e2\u20ac\u2122s also the normal balance for an expense account. The normal balance for a liability and owner\u00e2\u20ac\u2122s equity accounts is a credit. Credit is the normal balance for revenues as well. This seems odd. Assets (economic resources) &amp; expenses (outflows incurred to generate revenues) have the same normal balance and so do liabilities (amounts owed or creditor claims)and revenues (increases in equity from business transactions). It seems contradictory. Why is that the way things are done?<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Learning Goal: I&#8217;m working on a accounting discussion question and need the explanation and answer to help me learn. The normal balance in an asset account is a debit. It\u00e2\u20ac\u2122s also the normal balance for an expense account. The normal balance for a liability and owner\u00e2\u20ac\u2122s equity accounts is a credit. Credit is the normal [&hellip;]<\/p>\n","protected":false},"author":3,"featured_media":0,"comment_status":"open","ping_status":"closed","template":"","meta":[],"disciplines":[644],"paper_types":[],"tagged":[],"aioseo_notices":[],"_links":{"self":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/5819"}],"collection":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions"}],"about":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/types\/questions"}],"author":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/users\/3"}],"replies":[{"embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/comments?post=5819"}],"version-history":[{"count":0,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/questions\/5819\/revisions"}],"wp:attachment":[{"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/media?parent=5819"}],"wp:term":[{"taxonomy":"disciplines","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/disciplines?post=5819"},{"taxonomy":"paper_types","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/paper_types?post=5819"},{"taxonomy":"tagged","embeddable":true,"href":"https:\/\/www.goodacademic.com\/blog\/wp-json\/wp\/v2\/tagged?post=5819"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}