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It is a liability
Cash is an asset. It could also be part of what makes up an owner's equity.
Building is an asset of business by utilizing which company earns revenue to pay all liabilities and owner's capital.
asset
Credit Decreases an Asset and Debit decreases Owners Equity.
It is a liability
Cash is an asset. It could also be part of what makes up an owner's equity.
Building is an asset of business by utilizing which company earns revenue to pay all liabilities and owner's capital.
asset
Asset.
Credit Decreases an Asset and Debit decreases Owners Equity.
asset liability
Capital is the amount contributed by company's owners toward company that's why it is a liability of company to payback on occasion of dissolution that;s why it is treated as owner's equity and comes under liability side of balance sheet and not as an asset of company.
Sales is generally considered "Revenue" or "Income" and therefore are an Owners Equity Account. Sales affect Retained Earnings and Retained Earnings affects Owners Equity.
no owners capital is not an asset its an internal liability for the company
no owners capital is not an asset its an internal liability for the company
uses of cash