Adjusted balance method APEX
adjusted balance method ; apex
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
Purchases account is personal account in nature and basic rule for personal account is debt what comes in and credit what goes out so purchases is a debit balance as a default balance.
Purchases are personal account nature and as a basic accounting rule debit what comes in and credit what goes out so purchases has debit balance as normal balance.
A purchase you make is a DEBIT against your account.
Adjusted balance method APEX
adjusted balance method ; apex
Average Daily Balance Method
A credit on your account means that you have money or funds available that can be used to make purchases or payments. It indicates that you have a positive balance in your account, which can be used for transactions or to cover expenses.
The largest single account in the overall balance of payments is, for most countries, the current account.
Purchases account has debit balance as default balance while purchases returns has credit balance as default balance because it is use to reduce the purchases account so debit decreases the purchase discounts while credit increases the purchase discount account.
A basic balance is the net balance of the combination of a current account and a capital account in a balance of payments.
Purchases account is personal account in nature and basic rule for personal account is debt what comes in and credit what goes out so purchases is a debit balance as a default balance.
foreign inflation rates
Purchases are personal account nature and as a basic accounting rule debit what comes in and credit what goes out so purchases has debit balance as normal balance.
A purchase you make is a DEBIT against your account.
The difference between total payments and total charges to an account is called the account balance. If total payments exceed total charges, the balance will be a credit, indicating a surplus. Conversely, if total charges exceed total payments, the balance will be a debit, reflecting an outstanding amount owed. This balance is essential for understanding the financial status of the account.