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What else can I help you with?
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
How Do You Decrease A Liability Account?
By paying the liability in part or in full.
How do you increase a liability?
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.
What type of account is unearned rent?
Liability account.
Is unearned revenue is nominal account?
Unearned ravenue is liability account as revenue is not yet earned but cash received.
Is a cheque account an asset or liability?
It comes under liability
The transaction would increase an asset account and increase a liability account?
The transaction would increase an asset account and increase a liability account?
How Do You Decrease A Liability Account?
By paying the liability in part or in full.
How do you increase a liability?
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.
What type of account is unearned rent?
Liability account.
What type of an account is account payable?
balance sheet account liability
Is electricity a liability or asset?
Electricity expense is an expense account while accrued electricity payable is a liability account
How do you record an increase in a liability account?
Any increase is an credit for a liability
Is provision for depreciation is current liability?
NO, it is not a liability it is a con-tra account
How can one decrease a liability account?
To decrease a liability account, you can either pay off the debt or make a payment towards the amount owed. This reduces the amount of money that you owe, resulting in a decrease in the liability account.
Does credit from supplier decrease account payable account?
No, it increases the liability account.
