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What is the meaning of surplus on revaluation of fixed assets?
While in the process of revaluation of assets and liabilities, if the value of some assets increase more than the decrease in the value of some fixed assets then the difference of this increase and decrease if positive is called surplus on revaluation of fixed assets.
How does paying a liability with cash affect the accounting equation?
assets decrease; liabilities decrease
Does assets decrease when an owner withdraws cash?
Yes owner withdraws in form of cash or assets so ultimately it reduces the assets of business as well.
What is the mean of impairment of the assets?
what is mean by assets register?
When a business pays cash for salaries assets decrease and expenses?
INCREASE
A credit signifies a decrease in?
a decrease in assets
Why does non current assets decrease?
Non current assets decrease with depreciation which is due to wear and tear due to usage of that assets in revenue generation.
A credit may signify what?
Decrease in assets
A credit may signify...?
Decrease in assets
What is the meaning of surplus on revaluation of fixed assets?
While in the process of revaluation of assets and liabilities, if the value of some assets increase more than the decrease in the value of some fixed assets then the difference of this increase and decrease if positive is called surplus on revaluation of fixed assets.
How does paying a liability with cash affect the accounting equation?
assets decrease; liabilities decrease
What will a decrease a revenue and a decrease in assets?
A sales refund will reduce income (debit to Sales Returns) and assets (credit to cash). A debit to Depreciation Expense and a credit to Accumulated Depreciation will reduce assets and net income.
Is paying cash for a dividend an increase or a decrease to your assets?
stock dividends what impact on total assets
Is a credit a decrease in assets retained earnings revenue liabilities?
Credit causes the decrease in assets only because assets has debit balance as a normal balance while all other items has credit balance and credit causes the increase in them.
Does assets decrease when an owner withdraws cash?
Yes owner withdraws in form of cash or assets so ultimately it reduces the assets of business as well.
What is the mean of impairment of the assets?
what is mean by assets register?
When en expense is paid in cash net what is the effect on net assets and profit?
net assets decrease and profit decreases
