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What would happen to the other side of the journal entry with a decrease in an asset?
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
What transactions increase in one owner's equity equals decrease in another owner's equity?
Profits would increase owners equity, loss and drawing would decrease an owners equity.
Does a decrease in prepaid expenses increase cash flow?
No, it does not. You already paid for it. The cash involved is gone. Whatever was pre-paid has decreased in value as an asset. It's not a liability, equity, revenue, nor an expense. It would have to be an increase in another form of an asset. Accumulated depreciation is likely the asset that would increase.
What transaction would cause decrease and increase liability account?
A liability account is money owed by a company. Such as Accounts Payable and Notes Payable.A transaction that would increase a liability account is if you purchased an item on account. This would increase either the Account Payable or Note Payable accounts.A transaction that would decrease these are actual payments you make to the person/company you owe, hence lowering the balance of how much is owed.For example, I purchase a truck costing $15,000, that transaction has increased my liability in notes payable. Once I begin making payments on that truck, each of those payments will decrease the liability.
What transaction would decrease an asset account and decrease the owner's equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What would happen to the other side of the journal entry with a decrease in an asset?
there should be increase in any other asset or decrease in liability or decrease in owners equity to balance.
What transactions increase in one owner's equity equals decrease in another owner's equity?
Profits would increase owners equity, loss and drawing would decrease an owners equity.
Does a decrease in prepaid expenses increase cash flow?
No, it does not. You already paid for it. The cash involved is gone. Whatever was pre-paid has decreased in value as an asset. It's not a liability, equity, revenue, nor an expense. It would have to be an increase in another form of an asset. Accumulated depreciation is likely the asset that would increase.
What would decrease liability?
Debit balance would decrease the liability as credit balance increases the liability.
What transaction would cause decrease and increase liability account?
A liability account is money owed by a company. Such as Accounts Payable and Notes Payable.A transaction that would increase a liability account is if you purchased an item on account. This would increase either the Account Payable or Note Payable accounts.A transaction that would decrease these are actual payments you make to the person/company you owe, hence lowering the balance of how much is owed.For example, I purchase a truck costing $15,000, that transaction has increased my liability in notes payable. Once I begin making payments on that truck, each of those payments will decrease the liability.
What transaction would decrease an asset account and decrease the owner and equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What transaction would decrease an asset account and decrease the owner's equity account?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
What transaction would decrease an asset account and decrease the owner equity account.?
Give me an example for what, the transaction would decrease an asset account and decrease the owner's equity account?
Does a credit to a liability account increase or decrease amount owed?
It increases the amount owed, because creditors would be credited
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
Which transaction would increase and decrease an assat?
A debit would increase and a credit will decrease .
What would increase an actors' equity?
An actor would have an increase in equity if he starred in a new movie or acted in many movies in a short amount of time. He may also have an increase in equity if a scandal is going around about him.
