0
Want this question answered?
Be notified when an answer is posted
Add your answer:
Earn +20 pts
Will decrease owners equity?
when assests decrease owners equity will also decrease
When will owner's equity decrease?
when assests decrease owners equity will also decrease
What would happen to the other side of the journal entry with a decrease in an asset?
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
How do you decrease an asset and decrease owners equity?
Credit Decreases an Asset and Debit decreases Owners Equity.
EXAMPLE OF increase in liability equals decrease in owners equity?
A company takes accounts payable to increases revenue but suffer losses.
Is rent income a asset liability or owners equity?
asset liability
What is a decrease in owner's equity?
Withdrawal decreases owners equity.
What transactions increase in one owner's equity equals decrease in another owner's equity?
Profits would increase owners equity, loss and drawing would decrease an owners equity.
Why is owners equity regarded as a liability to the business?
Owners equity is the amount invested by the owner of business to the company and as a seperate entity it is the liability of the business to return back that amount to owners as owners are seperate entity to business.
Is cash an asset liability or owners equity?
asset
How does a stock repurchase affect the accounting equation 1 Decrease asset increase equity 2 Increase asset decrease liability 3 Decrease equity increase liability 4 Decrease asset decrease equity?
Decrease asset; since repurchase is with cash, whis is an asset Decrease equity; if repurchased stock is not to be reissued, it is declared void and the number of outstanding assets is decreased. Hence, equity is decreased.
Why Liability equals Assets?
Assets- Liabilities = Owners Equity :)
