0
What else can I help you with?
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
Give a example of Increase an asset and increase a liability.?
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
What will increase one asset and decrease another asset with no effect on liability or owner s equity?
Purchase an asset on cash will increase the purchased asset while reduce the cash amount and no impact on liability or equity section.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
How does the purchase of equipment by signing a note affect the accounting equation?
asset increased, liability increased
Is a purchase discount account an asset or liability?
It is a contra asset account; thus, an ASSET
Give a example of Increase an asset and increase a liability.?
When we purchase fixed asset on credit then it increases our Assets and also increase liability. Transaction as follows: Asset [Debit] Payable [Credit]
What is net liability?
Asset - Liability = Net Asset / Liability * Net Asset - When Asset is more than Liability * Net Liability - When Liability is more than Asset
What will increase one asset and decrease another asset with no effect on liability or owner s equity?
Purchase an asset on cash will increase the purchased asset while reduce the cash amount and no impact on liability or equity section.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
How does the purchase of equipment by signing a note affect the accounting equation?
asset increased, liability increased
Is asset or liability?
asset
Is rent income a asset liability or owners equity?
asset liability
Is equipment an asset or liability?
Asset
Is land an asset or liability?
Asset
Is debtor an asset or liability?
It is an asset
Is a premises an asset or liability?
asset
