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Q: Will a equipment account be decreased or increased when you debit the account?
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Are purchases account is increased by a credit and decreased by a debit?

Purchases account is personal account in nature so debit means increase and credit means decrease.


Is equipment a debit or credit balance account?

equipment is a fixed asset.so it's a Debit balance account.


Will a credit entry to an account increase the balance of a revenue account?

Yes. Since revenue accounts are "credit" accounts, they are increased by credit entries and decreased by "debit" entries.


What is the normal balance of Equipment account?

debit


When the owner withdraws cash the owner's drawing account is?

decreased by a debit


Is a drawing account increased by debits?

Drawings has debit balance as a normal balance that's why it is increased by debit and reduced by credit.


The balance of a furniture and equipment account a debit or credit?

It is a debit balance. Furniture and Equipment accounts are included in an individuals assets and asset accounts have debit values.


What does a debit do to balance sheet?

The exact definition of debit is The amount entered on the left side of the account. Depending on what account a debit is being entered in, makes the difference as to what happens on the Balance Sheet. An Asset that has a debit balance is increased by a debit, thus increasing assets. A liability (which generally has a credit balance) will be decreased by a debit. Hence, debiting assets such as Cash, Accounts Receivable, Supplies, Equipment, etc will increase Assets on the balance sheet. Debiting liability accounts such as accounts payable, notes payable, etc, will "decrease" said liability therefore decreasing liabilities on the balance sheet.


What credit means that an account has been increased?

Any credit is an increase to an account. A debit is a decrease to the account.


What is the journal entry for the cash stolen from cash box?

Debit: Profit & Loss Account Credit: Cash In Hand or Petty Cash Nature of Debit is Expense and the nature of Credit is Asset. Expense Increased and Asset Decreased If you have an account already open for such Losses then you should debit such account. For example in my company Cash loss is usual Case so we have an Account titled "Cash Lost Expense" In my cash I will pass the entry as Debit: Cash Lost Expense Credit: Cash in Hand or Petty Cash


Is Fees earned is decreased is it debited or credited?

The Fees Earned account has a credit balance. This means that you credit the account to increase the balance, and debit the account to decrease the balance.


What is the Journal entry for loss on sale of equipment?

[Debit] Loss on sale of equipment xxxx [Credit] Asset account xxxx