Capital is liability for business and like all other liabilities capital also has credit balance.
Capital is a Credit Balance account. To increase capital and therefore increase OE, you will Credit the account. Not DEBIT. You Debit Cash, Credit Capital.
credit
Credit
Debit
owners capital is liability of business that's why it is credit balance.
Capital is a Credit Balance account. To increase capital and therefore increase OE, you will Credit the account. Not DEBIT. You Debit Cash, Credit Capital.
credit
Credit
Credit
Debit
owners capital is liability of business that's why it is credit balance.
it is a credit balance
write up the entries required in revaluation account?
First entry is: [Debit] bank [Credit] Share application 2nd entry: [Debit] Share application [Credit] subscriber 3rd entry [Debit] subscriber [Credit] Share capital Subscriber is debit to write off the subscriber account.
Debit Cash 5000 Credit Capital 5000
A Capital is a credit entry. It is usually recorded as an owner's equity. ;3
debit cashcredit share capital