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Should debits equal credits when making a journal entry?
Total Debit should equal to Total Debit at all times.
What do you mean by debit and credit in tally?
A credit and debit tally is the total of the credits and debits, separately. The difference between the totals is the net profit or loss.
Accounting equation and rules of debit and credit?
Accounting equation: Owner's Equity=Total Equity + Revenue - Expense - Equity of creditors Rules of Debit and Credit: Personal account: Debit the receiver. Credit the giver. Real account: Debit what comes in. Credit what goes out. Nominal account: Debit all expenses and loses. Credit all income and gains.
The column total of the general debit column is posted is it true or false?
This question is wrong.
Is prepaid insurance a debit or credit?
Debit
Should debits equal credits when making a journal entry?
Total Debit should equal to Total Debit at all times.
Can a trial balance usually has no mathematical errors if the total debit amounts equals total the credit amount?
no
What do you mean by debit and credit in tally?
A credit and debit tally is the total of the credits and debits, separately. The difference between the totals is the net profit or loss.
What do debit card fees usually total up to?
The cost of your debit card fees usually depends on what financial institution you are using. The standard fee on most prepaid debit cards is usually around 4.95 to about 5.00.
What is the difference between net credit and net debit in financial transactions?
The difference between net credit and net debit in financial transactions is that net credit means the total amount of money received or credited to an account, while net debit means the total amount of money paid out or debited from an account.
If The total debit column exceeds the total credit column of the income statement columns on a worksheet?
the company has a net loss
What report lists accounts and their balances in which the total debit balances should equal the total credit balances?
Trial Balance
Accounting equation and rules of debit and credit?
Accounting equation: Owner's Equity=Total Equity + Revenue - Expense - Equity of creditors Rules of Debit and Credit: Personal account: Debit the receiver. Credit the giver. Real account: Debit what comes in. Credit what goes out. Nominal account: Debit all expenses and loses. Credit all income and gains.
The column total of the general debit column is posted is it true or false?
This question is wrong.
Is prepaid insurance a debit or credit?
Debit
What is the difference between a net debit and a net credit in accounting transactions?
In accounting, a net debit occurs when the total debits exceed the total credits in a transaction, indicating an increase in assets or expenses. On the other hand, a net credit happens when the total credits exceed the total debits, showing an increase in liabilities, equity, or revenue.
Is drawing debit or credit?
its debit.
