A liability account is a credit account, and credit accounts can be increased by writing a credit in the journal entry. Therefore, a liability is increased by crediting it.
Any increase is an credit for a liability
The transaction would increase an asset account and increase a liability account?
Paying off one loan by getting another loan will decrease one liability and increase another.
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
Any increase is an credit for a liability
The transaction would increase an asset account and increase a liability account?
Paying off one loan by getting another loan will decrease one liability and increase another.
All liabilities are credited and assets are debited so increase in liability will be credited and not debited.
An increase in liability will affect the credit side of the accounting equation.
Liability has credit balance as normal balance so credit increases the liability which means addition to current liability will increase the overall liability and reduction in liability will reduce overall liability.
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
no, increase liability
account payable paid-off by arranging a new loan.
increase working capital
Does stock dividends increase the corporations total liabilities
yes