credit
[Debit] Supplies expenses [Credit] Supplies Inventory
Debit account
Assets carry a debit balance, supplies are an asset, so supplies carries a debit balance.There's more to supplies being either a debit or credit than just that. Supplies are generally something you use to keep your business going, whether a service business or a merchandising business or whatever.When you purchase supplies to use in your business, we will assume the company purchased these supplies using cash, then we would Debit Supplies and Credit Cash. As long as you have those supplies on hand then they show up as a debit on the books. Once you use them and say take inventory the amount of supplies you use will change. For example, say my business is cleaning homes. I have cleaning supplies that total $500, on my books under supplies I have a debit for $500. This month I used $400 of those supplies, I would then adjust my books as a Debit to Supply Expense and a Credit to Supplies.Supplies on hand show on the books as a Debit, when used, are transferred to Supply Expense as a Debit.
You would debit cash and credit the applicable account. examples: 2000.00 debit. cash and 2000.00 credit accounts receivable for a payment that was received from a customer. 500.00 debit cash and 500.00 credit supplies for overpayment on supplies.
credit
credit
[Debit] Supplies expenses [Credit] Supplies Inventory
Debit account
Assets carry a debit balance, supplies are an asset, so supplies carries a debit balance.There's more to supplies being either a debit or credit than just that. Supplies are generally something you use to keep your business going, whether a service business or a merchandising business or whatever.When you purchase supplies to use in your business, we will assume the company purchased these supplies using cash, then we would Debit Supplies and Credit Cash. As long as you have those supplies on hand then they show up as a debit on the books. Once you use them and say take inventory the amount of supplies you use will change. For example, say my business is cleaning homes. I have cleaning supplies that total $500, on my books under supplies I have a debit for $500. This month I used $400 of those supplies, I would then adjust my books as a Debit to Supply Expense and a Credit to Supplies.Supplies on hand show on the books as a Debit, when used, are transferred to Supply Expense as a Debit.
You would debit cash and credit the applicable account. examples: 2000.00 debit. cash and 2000.00 credit accounts receivable for a payment that was received from a customer. 500.00 debit cash and 500.00 credit supplies for overpayment on supplies.
debit Supplies Expense; credit Supplies
Debit Asset a/c if asset a/c is bought and credit Cash a/c OR if these are sundry supplies debit that head and credit cash acct
[Debit] Dental Supplies [Credit] Cash
[Debit] Supplies expenses [Credit] Cash / bank
Supplies are those items which is usable in near future like office supplies etc so it has debit balance as default balance and shown under current assets of business in asset side of balance sheet.
Debit