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What else can I help you with?
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
A transaction that increases an asset and decreases a liability must also affect one or more other accounts?
TRUE
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
If payment on a current liability?
Payment On Current Liability Debit The Current Liability (say Sundry Creditor) (Liability Decreases) Credit Cash Or Bank (Current Asset Decreases)
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
A transaction that increases an asset and decreases a liability must also affect one or more other accounts?
TRUE
Decrease an asset account and decrease a liability account?
if you have a asset and you sale it and then money which you get pay as a liability so decreas in asset and decreas in liability occurs.
What is mean of Dr and Cr?
In accounting, "Dr" stands for "debit," which is an entry that increases an asset or expense or decreases a liability or equity. Conversely, "Cr" stands for "credit," which increases a liability or equity or decreases an asset or expense. Together, debits and credits are used to maintain the accounting equation and ensure that financial statements are balanced.
Is a trade debtors asset or liability?
yes It is an Asset, not a Liability.
Is asset or liability?
asset
Bad debts is a liability or an asset?
A bad debt is a expense which affects the owners equity as it is charged against the profit and loss account and it decreases the profit of the business.
Is rent income a asset liability or owners equity?
asset liability
Is debtor an asset or liability?
It is an asset
Is Cash an asset or liability?
Asset.
Is a premises an asset or liability?
asset
