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How would you enter the following data into a T account in a journal entry Purchased equipment for 9000 Paid 1500 cash and the balance was 375 dollars for 20 months?
Wiki User
∙ 9y ago
Debit Equipment 9000
Credit Cash 1500
Credit Account payable 7500
Wiki User
∙ 9y ago
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Is equipment a debit or credit balance account?
equipment is a fixed asset.so it's a Debit balance account.
What is the normal balance of Equipment account?
debit
Why can't all the balance of payments accounts be in surplus?
The balance of payments accounts cannot be in surplus because there is always a balance in economics. For example, if you used cash assets to purchase equipment, the equipment account will increase but the cash assets account will decrease.
The balance of a furniture and equipment account a debit or credit?
It is a debit balance. Furniture and Equipment accounts are included in an individuals assets and asset accounts have debit values.
Where does personal equipment go on a balance sheet?
under the head of personal account..
What does the balance in the Accumulated Depreciation account represents?
it represents the undepreciated cost of existing equipment.
What does the credit balance in the accumulated depreciation account represent?
it represents the undepreciated cost of existing equipment.
What is ELTO?
ELTO could mean 'Equipment Leased to Others', commonly recorded in a Company's Plant, Property and Equipment account in the Assets of a Balance Sheet
Which of the following account ordinarily appears in the post-closing trial balance?
unearned rent
How do you check sbi account balance without net banking?
You can check the balance on your SBI ATM card by calling the 800 number on the back of the card. Many ATMs will have a check balance option. Some ATMs will charge a small fee for checking the balance.
What is an account that has a debit balance?
Debits accounts normally comprise: Assets (in the balance sheet) Expenditure (in the income statements). Within assets may be that account such as value of a building lower than purchased thus a debit acct.
Julio has a revolving credit account at an annual percentage rate of 18 percent His previous monthly balance is 362.11 Find the new balance if Julio's account showed the following activity?
$639.90
