Paid in capital is the liability for business and like all other liabilities it also has credit balance as normal balance
debit buddy
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
debit
debit balance
Debit in your Income statement credit in your balance sheet.
debit buddy
credit
it is a debit balance because it decreases owner's equity, which has credit balance.
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
debit
debit balance
Debit in your Income statement credit in your balance sheet.
it is a debit balance because it decreases owner's equity, which has credit balance.
Debit
credit
Accounts receivable is an asset of company and like all other assets accounts accounts receivable also has debit balance.
To find the balance, subtract the debit from the credit. In this case, the balance would be 84 (credit) - 29 (debit) = 55. Therefore, the resulting balance is 55.