The entry increases total assets and increases total expenses
no
Accounts receivable is also part of assets of business and cash as well so there is no difference on overall assets of business.
cash assets increase Equity increases as sales revenue increases and net income increases. No effect on Liabilities and Expenses
I would post first all assets
accounting equation assets = liabilities + capital so if assets increases either liability or capital will increase for this purpose 1. assets means both long term assets and short term assets 2. capital means owners equity 3. liability means outsliders liability
The entry increases total assets and increases total expenses
Intangible assets are assets like other assets and have debit balance so these are also increased by debit only and reduce by credit.
Better known as a bollard, a post guard (or guard post) is a short vertical post meant to prevent access and protect assets.
no
Accounts receivable is also part of assets of business and cash as well so there is no difference on overall assets of business.
If asset is increased it is Debited in Ledger and if liability increases it is credited. Accounts Receivables are treated as assets. Both Assets and Liabilities are shown in face of Statement of Financial Position.
cash assets increase Equity increases as sales revenue increases and net income increases. No effect on Liabilities and Expenses
I would post first all assets
In accounting, transactions are debited or credited based on the accounting equation, which states that assets must equal liabilities plus equity. When a transaction increases assets or expenses, it is debited. When a transaction increases liabilities, equity, or revenue, it is credited.
yes it does
property and equipment should be debited if they increases because both are assets