Do the terms debit and credit signify an increase or decrease, or can they signify either? Explain.General Ledger Accounts:General ledger accounts are the record opened in the general ledger for each asset, liability, equity, revenue, and expense item a company ...
The balance in Accounts Payable is decreased with a entry. a. debit b. credit The Sales Returns and Allowances account is classified as a(n) a. asset account. b. contra asset account. c. expense account. d. contra revenue account. ...
A debit is used to record: A、A decrease in an asset account. B、A decrease in an expense account. C、An increase in a revenue account. D、An increase in the balance of an owner's capital account. E、An increase in the balance o
Debit: Party ledger. Credit: VAT ledger. Puducherry Decrease of Input Tax Against CST Debit: CST ledger. Credit: VAT ledger. Change in Use of Goods, for Purchase Other Than for Which Credit Allowed Debit: Purchase/expense ledger. Credit: VAT ledger. Other Adjustments Debit: ...
Debit. B. Increase. C. Credit. D. Decrease. E. Account balance. 文案大全 实用标准文档 79. A credit is used to record: A. A decrease in an expense account. B. A decrease in an asset account. C. An increase in an unearned revenue account. D. An increase in a revenue account. E...
In accounting, journal entries record all financial activities of the business. It is based on the concept of a double-entry bookkeeping system that at least one debit and one credit must be recognized. Answer and Explanation:1 The c...
Indicate whether a debit or credit entry would be made to record the following changes in each account. a. To decrease Cash b. To increase Owner, Capital c. To decrease Accounts Payable. d. To increase Salaries Expense. In the...
Revenue decreases with a debit because its normal balance is credit. A normal balance assigns accounts either a debit or a credit balance whenever an...Become a member and unlock all Study Answers Start today. Try it now Create an account Ask a question Our experts can answer your tough...
a) credit prepaid rent account b) debit insurance expense account c) credit tax payable account Accounts: In accounting and bookkeeping an account refers to assets, liabilities, equity, revenue, and expenses that are increased o...
Answer to: A debit to an expense account will: a. Decrease owner's equity b. Decrease liabilities c. Increase owner's equity d. Decrease assets By...