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Credit Decreases an Asset and Debit decreases Owners Equity.
asset
asset liability
The recording of a profitable transaction will increase an asset and increase owners equity such as the sale of a product: Either Cash or Accounts Receivable would increase; and Current Profit increases (which is included in owners equity).
Cash is an asset. It could also be part of what makes up an owner's equity.
Credit Decreases an Asset and Debit decreases Owners Equity.
asset
asset liability
The recording of a profitable transaction will increase an asset and increase owners equity such as the sale of a product: Either Cash or Accounts Receivable would increase; and Current Profit increases (which is included in owners equity).
Cash is an asset. It could also be part of what makes up an owner's equity.
Investment from factory owners is equity and it is shown in balance sheet of business.
neither
account
[Debit] Fixed Assets [Credit] Owners equity
Sales is generally considered "Revenue" or "Income" and therefore are an Owners Equity Account. Sales affect Retained Earnings and Retained Earnings affects Owners Equity.
Owner Equity decreased by:Reduction in asset value without reduction in liabilityOwners drawingsNet loss for current period.
asset equity