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Is paid in capital a debit or credit account?
Paid in capital is liability for business and like all liabilities it also has credit balance as normal balance.
Does paid-in-capital carry a debit or credit balance?
Paid in capital is the liability for business and like all other liabilities it also has credit balance as normal balance
Is cash in the bank debit or credit?
Cash you have deposited into a bank is credit Money to be paid back later is debit
In accounting which account cannot have a debit balance so if you need to decrease it by more than the credit balance of the account you would need to debit retained earnings?
I figured it out, Additional Paid-In Capital - Treasury Stock
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
Is paid in capital a debit or credit account?
Paid in capital is liability for business and like all liabilities it also has credit balance as normal balance.
Does paid-in-capital carry a debit or credit balance?
Paid in capital is the liability for business and like all other liabilities it also has credit balance as normal balance
What is the journal entry to increase paid-up capital?
debit cashcredit share capital
Is cash in the bank debit or credit?
Cash you have deposited into a bank is credit Money to be paid back later is debit
In accounting which account cannot have a debit balance so if you need to decrease it by more than the credit balance of the account you would need to debit retained earnings?
I figured it out, Additional Paid-In Capital - Treasury Stock
What is the normal balance of a additional paid-in capital account?
Additional Paid-in Capital is a normal credit balance account.
When does debit balance in account payable?
As accounts payable has a credit balance as normal balance so it has credit balance until not paid but it may have debit balance as well in case when payment is made for more than actual accounts payable which create negative balance or debit balance.
What is the journal entry to increase paid up capital?
debit cash /bankcredit capital account
What is the meaning of debit balace in income and expenditure account?
Debit Balance- means outstanding balance, meaning you need to pay it! Credit Balance- means you have over paid.
What is the journal entry if an owner makes payments on a company loan and he will not be reimbursed by the company?
debit loan accountcredit owners equityDebit Loan Payable Debit Interest Expense Credit Paid in Capital
Is deposit acredit or debit?
If it is customer deposits then it is liability of business to be paid then its balance is credit but if it is deposit with other companies or in bank then it is asset of business and default balance is debit balance.
Is paid up capital a debit or a credit account?
aid up capital is the amount invested by owners towards business and it is the liability of business to pay back so it is liability of business and as all liability accounts it has also credit balance.
