Decreased.
Yes, debiting a cash account means it increases.
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
We debiting the rent expense because when expenses are incurred so the rule of double entry is to debit the expense account and increased liability....it is rules of GAAP.
she invested P 50, 000 in cash to start his business
expense
Yes, debiting a cash account means it increases.
A declared cash dividend is recorded by debiting the dividend account and crediting the dividend payable account.
We debiting the rent expense because when expenses are incurred so the rule of double entry is to debit the expense account and increased liability....it is rules of GAAP.
A correcting entry is an entry that corrects a previous entry. ex. You buy supplies worth $500 You debit Equipment and you credit Cash then you CORRECT it by: debiting Supplies and crediting Equipment Basically, since you made a mistake in the first entry, you correct it. In some cases, you redo the entry by debiting cash, crediting equipment; then starting over, debit supplies, credit cash.
Debit supplies inventoryCredit cash / bank
she invested P 50, 000 in cash to start his business
expense
When recording transactions, expenses increase when debiting the account.
You could sell merchandise and make a profit. If the customer has not paid you yet, you have not increased cash. You have increased accounts receivable.
debtors are overstated by 500 as it is meant to be credited so assets will be overstated by now 500+500 =1000 because we r also debiting bank due to the cash received
The journal entry for payment made to a creditor typically involves debiting the accounts payable account to reduce the liability and crediting the cash account to reflect the outflow of cash. For example, if a company pays $1,000 to a creditor, the entry would be: Debit Accounts Payable $1,000 Credit Cash $1,000 This entry decreases both the company's liabilities and its cash balance.
Yes, the transaction of returning defective supplies and receiving a cash refund would typically be recorded in the Cash Receipts Journal. The entry would involve debiting the accounts payable or purchases returns account for the amount of the defective supplies and crediting the cash account for the amount of the refund received.