asset increased, liability increased
yes It is an Asset, not a Liability.
Example 1: A company purchased $12,000 equipment and paid in cash.Debit Equipment $12,000 (Increase in asset)Credit Bank $12,000 (Decrease in asset)Example 2: A company purchased $12,000 equipment in credit.Debit Equipment $12,000 (Increase in asset)Credit Supplier $12,000 (Increase in Liability)Example 3: A company purchased $12,000 equipment and paid in $10,000 Cast and $2,000 on credit.Debit Equipment $ 12,000 (Increase in asset)Credit Bank $ 10,000 (Decrease in asset)Credit Supplier $ 2,000 (Increase in Liability)
asset liability
Asset.
Asset
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
asset increased, liability increased
yes It is an Asset, not a Liability.
Example 1: A company purchased $12,000 equipment and paid in cash.Debit Equipment $12,000 (Increase in asset)Credit Bank $12,000 (Decrease in asset)Example 2: A company purchased $12,000 equipment in credit.Debit Equipment $12,000 (Increase in asset)Credit Supplier $12,000 (Increase in Liability)Example 3: A company purchased $12,000 equipment and paid in $10,000 Cast and $2,000 on credit.Debit Equipment $ 12,000 (Increase in asset)Credit Bank $ 10,000 (Decrease in asset)Credit Supplier $ 2,000 (Increase in Liability)
asset
asset liability
asset
Asset.
asset
asset
Asset