side which increases that account.
Since its on the left side of the basic account equation of assets= liabilities + equity its normal balance would be a debit
Normal balance of all liabilities accounts are credit side while debit balance is of all expenses and assets.
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
decreased
the increase side of an account is also the side of the normal balance
Since its on the left side of the basic account equation of assets= liabilities + equity its normal balance would be a debit
decreased
Normal balance of all liabilities accounts are credit side while debit balance is of all expenses and assets.
Normal balance of bonds payable account is credit account and it is shown under liability side of balance sheet because these are the amounts payable in future.
decreased
decreased
the increase side of an account is also the side of the normal balance
Prepaid expense is personal account in nature and default normal balance is debit balance and shown under current asset in asset side of balance sheet.
the increase side of an account is also the side of the normal balance
The left side of an account is known as debit. The left side of an account is known as debit. The left side of an account is known as debit.
No. Accumulated Depreciation is a contra-account which appears on the asset side of the Balance Sheet. It is a credit balance account which reduces the value of Fixed Assets to reflect their declining value due to age and use. The normal offset to an entry to the Accumulated Depreciation account is a debit to Depreciation Expense.
bank