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If total liabilities decreased by 4000 then?
assets must have decreased by 7000
Are Liability accounts are increased by debits?
No Liabilities will not be increased they will be decreased by debits
How do you decrease a liability?
Liabilities are decreased by a debit entry...typically a cash payment (Dr. the liability; Cr. Cash)
How can you describe a current liability turnover ratio?
shows how your short term liabilities are able to generate income
What is word debit credit?
As for as the meanings of debit and credit is concerned, in accounting it has no specific meanings. Rauther they reflect the situation as follows Debit is a situation where assets, expenses, drawings and losses are increased OR Liabilities, capital , revenue or profit are decreased. Credit is a situation when assets, expenses, drawings and losses are decreased OR Liabilities, capital , revenue or profit is increased. the above statement can be mentined as folows. __________________________________________ Dr. Cr. ------------------------------------------------------------------- Assets Expense Drawings + (-) Losses Capital Liabilities (-) + ___________________________________________ submitted by nadeemlatifkhan.com Nadeem Latif Khan, SIalkot. PAkistan Revenue Profits
If total liabilities decreased by 4000 then?
assets must have decreased by 7000
Are Liability accounts are increased by debits?
No Liabilities will not be increased they will be decreased by debits
If total assets increased 150000 during the year and total liabilities decreased 80000 what is the amount of stockholders' equity at the end of the year?
If total assets increased 150000 during the year and total liabilities decreased 80000 what is the amount of stockholders' equity at the end of the year?
How do you decrease a liability?
Liabilities are decreased by a debit entry...typically a cash payment (Dr. the liability; Cr. Cash)
How can you describe a current liability turnover ratio?
shows how your short term liabilities are able to generate income
What is word debit credit?
As for as the meanings of debit and credit is concerned, in accounting it has no specific meanings. Rauther they reflect the situation as follows Debit is a situation where assets, expenses, drawings and losses are increased OR Liabilities, capital , revenue or profit are decreased. Credit is a situation when assets, expenses, drawings and losses are decreased OR Liabilities, capital , revenue or profit is increased. the above statement can be mentined as folows. __________________________________________ Dr. Cr. ------------------------------------------------------------------- Assets Expense Drawings + (-) Losses Capital Liabilities (-) + ___________________________________________ submitted by nadeemlatifkhan.com Nadeem Latif Khan, SIalkot. PAkistan Revenue Profits
If current liabilities are 7714 and total liabilities are 18187 what is the ratio of current liabilities to total liabilities?
Current Liabilities to Total Liabilities Ratio = Current Liabilities / Total Liabilities Current Liabilities to Total Liabilities Ratio = 7714 / 18187 Current Liabilities to Total Liabilities Ratio = 0.42 or 42%
List of words to describe subtraction?
Decreased Less Than Minus Lose Deduct
What are the classification in the liabilities?
liabilities can be classified as short term liabilities and long term liabilities
How would you describe a balance sheet?
assets or resources, money or money worth available to an organisation in doing business
Which account decreases when debit?
All those accounts decreases with debit which normal or default balances are credit for example all liabilities or incomes are decreased with debits because their default balances are credit balance.
Two common subgroups for liabilities on a classified balance sheet are?
current liabilities and long term liabilities
