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It may be real account or personal account depending upon the type of liabilities. it can however never be a nominal account
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∙ 11y ago
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Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
How Do You Decrease A Liability Account?
By paying the liability in part or in full.
How do you increase a liability?
A liability account is a credit account, and credit accounts can be increased by writing a credit in the journal entry. Therefore, a liability is increased by crediting it.
What type of account is unearned rent?
Liability account.
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
Is a cheque account an asset or liability?
It comes under liability
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
How Do You Decrease A Liability Account?
By paying the liability in part or in full.
How do you increase a liability?
A liability account is a credit account, and credit accounts can be increased by writing a credit in the journal entry. Therefore, a liability is increased by crediting it.
What type of account is unearned rent?
Liability account.
What type of an account is account payable?
balance sheet account liability
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
Is provision for depreciation is current liability?
NO, it is not a liability it is a con-tra account
How do you record an increase in a liability account?
Any increase is an credit for a liability
Does credit from supplier decrease account payable account?
No, it increases the liability account.
When a business pays cash on account a liability account is?
reduceds
