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Crediting an account by the bank means a decrease to that account false or true?
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Would a credit entry to the accounts receivable ledger account would make the balance increase?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
What credit means that an account has been increased?
Any credit is an increase to an account. A debit is a decrease to the account.
Impact on accounts payable if the company pays the account?
An account payable is a debt the company owes and maintains a credit balance, the impact on the account if a company pays the debt is a decrease in what the company owes or a decrease in the account payable. This means a debit will be added to the account to "decrease" the balance.
Are purchases account is increased by a credit and decreased by a debit?
Purchases account is personal account in nature so debit means increase and credit means decrease.
Is Fees earned is decreased is it debited or credited?
The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.
Would a credit entry to the accounts receivable ledger account would make the balance?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
Would a credit entry to the accounts receivable ledger account would make the balance increase?
No! Accounts receivables is treated as an asset element in the balance sheet, and crediting an asset means decrease in asset.
What credit means that an account has been increased?
Any credit is an increase to an account. A debit is a decrease to the account.
Impact on accounts payable if the company pays the account?
An account payable is a debt the company owes and maintains a credit balance, the impact on the account if a company pays the debt is a decrease in what the company owes or a decrease in the account payable. This means a debit will be added to the account to "decrease" the balance.
Are purchases account is increased by a credit and decreased by a debit?
Purchases account is personal account in nature so debit means increase and credit means decrease.
If the wavelength of a given wave decreases you know that its frequency will stay the same true or false?
False. An increase in frequency means a decrease in the wavelength and a decrease in frequency goes with an increase in the wavelength.
If you debit an account is it decrease or increase?
increase By debiting an account means,specific amount will be deducted for credit to the account for whom it is intended, which is contra entry by nature.
Is Fees earned is decreased is it debited or credited?
The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.
Decrease an asset account and decrease a liability account?
if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.
True or false Inflation refers to a dramatic drop in prices?
False!Inflation means a dramatic increase in prices. The opposite of inflation is deflation. Deflation is a dramatic decrease in prices.
Is it true that the entropy of a system decreases over time?
false
Is interest expenses an asset or a liability?
In accounting, interest and other expenses are neither; they are a contra-equity account. This means that as expenses increase, the owners have less equity. Expenses should normally be treated as a debit account, so as you record interest expenses, you should be crediting either an asset or a liability at the same time.
