【Debit】 is also a term in accounting for any item shown on the left side of an account; it usually designates a purchase and its price and is opposed tocredit,or any entry on the right side (that is, for an article returned or an amount paid on account). ...
Accounts Receivable has a debit balance of $5,000, and the Allowance for Is allowance for doubtful accounts a debit or credit balance? Does a current liability account get smaller when you debit it? An account has $350 on the debit side and $925 on the credit side. What is the account...
Answer to: Accounts receivable is a(n) ___ account and has a normal ___ balance. a. liability; debit. b. asset; debit. c. liability; credit...
F7:133题这里,为什么current liability的debit balance是表示underprovision呢?current liability属于负债类账户,其debit balance应该表示负的债务,也就是overprovision才对啊? 网校学员音之续**在学习ACCA特许公认会计师F段+OBU本科学位班【签约班】时提出了此问题,已有2人帮助了TA。 网校助教 melaniet6fqa 同学你好,...
Can you help me to understand credit memo and debit memo in the bank reconciliation? What does debit memo mean on a bank statement? Related In-Depth Explanations Accounting Basics Accounts Payable Balance Sheet Bookkeeping Chart of Accounts Mark the Question as Read Advance...
8 A limited liability company’s trial balance does not balance. The totals are:Debit $384,030Credit $398,580A suspense account is opened for the difference.Which of the following pairs of errors could clear the balance on the suspense account when corrected? 相关知识点: 试题来源: 解析...
and the business estimates a $2 million loss if the firm loses the case. Because the liability is both probable and easy to estimate, the firm posts an accounting entry on the balance sheet to debit (increase) legal expenses for $2 million and to credit (increase) accrued expense for $2...
Is accounts payable a debit or credit? AP can either be a credit balance or a debit balance. It is a credit entry when organizations are yet to pay vendors/suppliers for products and services they purchased on credit. On the other hand, if a company pays one of its vendors or suppliers...
and the business estimates a $2 million loss if the firm loses the case. Because the liability is both probable and easy to estimate, the firm posts an accounting entry on the balance sheet to debit (increase) legal expenses for $2 million and to credit (increase) accrued expense for $2...