Yes, debiting a cash account means it increases.
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
Decreased.
Increase in salaries payable increases the cash account as cash is not paid and due to non payment of cash, cash account showing more balance then it would be if salaries paid already.
Standard closing entries: Close Revenue accounts to Income Summary by debiting Revenue and crediting Income Summary. Close Expense accounts to Income Summary by debiting Income Summary and crediting Expense accounts. Close Income Summary to Capital account by debiting Income Summary and crediting Capital account. Close Withdrawals account to Capital account by debiting Capital account and crediting Withdrawals account.
No.
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
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.
The journal entry for fuel refilling would involve debiting the fuel expense account to recognize the cost of fuel purchased and crediting the cash or accounts payable account to show the payment made or liability incurred. This transaction reflects an increase in expenses and a decrease in cash or an increase in accounts payable.
The journal entry for purchasing software involves debiting the software asset account to reflect the cost of the software and crediting the cash or accounts payable account depending on the method of payment. This entry recognizes the increase in assets due to the software purchase and the corresponding decrease in cash or increase in liabilities.
Decreased.
The journal entry to record payment for supplies would involve crediting the cash account and debiting the supplies expense account.
When an owner deposits cash in the bank account of his business, the bank account (assets) will increase in his books and payable account (Liabilities) will increase in the books of the bank.
The answer is in your question actually. If you received cash on account the asset of CASH will increase, while the asset of Account Receivable will decrease.Since you received cash it is assumed that they paid you cash on a balance that they owed you, so the journal entry would be a debit to cash (increase) and a credit to accounts receivable (decrease)
Increase in salaries payable increases the cash account as cash is not paid and due to non payment of cash, cash account showing more balance then it would be if salaries paid already.
In a cash-for-equity situation: * Increase the cash account by the amount of cash given * Increase the paid in capital account by the amount of cash given In an equipment-for-equity situation: * Increase the fixed assets account by the net value of the equipment (after depreciation to date) * increase the paid in capital account by the net value of the equipment
Standard closing entries: Close Revenue accounts to Income Summary by debiting Revenue and crediting Income Summary. Close Expense accounts to Income Summary by debiting Income Summary and crediting Expense accounts. Close Income Summary to Capital account by debiting Income Summary and crediting Capital account. Close Withdrawals account to Capital account by debiting Capital account and crediting Withdrawals account.
No.