Is equipment liability or asset

Anonymous

∙ 11y ago

Updated: 9/27/2022

Asset

Emmanuel McKenzie ∙

Lvl 10

∙ 2y ago

What else can I help you with?

Is equipment an asset or liability?

Asset

What is net liability?

Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset

How does the purchase of equipment by signing a note affect the accounting equation?

asset increased, liability increased

Is a trade debtors asset or liability?

yes It is an Asset, not a Liability.

Is asset or liability?

asset

Journal entry for purchases?

Example 1: A company purchased $12,000 equipment and paid in cash.Debit Equipment $12,000 (Increase in asset)Credit Bank $12,000 (Decrease in asset)Example 2: A company purchased $12,000 equipment in credit.Debit Equipment $12,000 (Increase in asset)Credit Supplier $12,000 (Increase in Liability)Example 3: A company purchased $12,000 equipment and paid in $10,000 Cast and $2,000 on credit.Debit Equipment $ 12,000 (Increase in asset)Credit Bank $ 10,000 (Decrease in asset)Credit Supplier $ 2,000 (Increase in Liability)

Is rent income a asset liability or owners equity?

asset liability

Is land an asset or liability?

Asset

Is debtor an asset or liability?

It is an asset

Is a premises an asset or liability?

asset

Is Cash an asset or liability?

Asset.

Is debtor asset or liability?

asset

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Is equipment liability or asset

What else can I help you with?

Is equipment an asset or liability?

What is net liability?

How does the purchase of equipment by signing a note affect the accounting equation?

Is a trade debtors asset or liability?

Is asset or liability?

Journal entry for purchases?

Is rent income a asset liability or owners equity?

Is land an asset or liability?

Is debtor an asset or liability?

Is a premises an asset or liability?

Is Cash an asset or liability?

Is debtor asset or liability?

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