0
What else can I help you with?
What is the real meaning of credit and debit?
"Credit" and "Debit" are accounting terms. In short, a credit is an addition to the account in question while a debit is a withdrawl or transfer. Depending on the specific use of each there can be a bit more detail.
Is wages and salaries expense a debit or credit?
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
Is prepaid insurance a debit or credit?
Debit
Is rent revenue credit or debit?
All revenues has credit balances as default balance like wise rent revenue also has credit balance as default balance instead of debit balance because all expenses has debit as default balance.
Is cost of sale credit or debit?
Credit or debit
What kind of credit card would you choose to have?
debit
What is the real meaning of credit and debit?
"Credit" and "Debit" are accounting terms. In short, a credit is an addition to the account in question while a debit is a withdrawl or transfer. Depending on the specific use of each there can be a bit more detail.
Is wages and salaries expense a debit or credit?
All kind of expenses have debit balances so wages and salaries expenses have also debit balance instead of credit balance.
Can you explain the difference between debit and credit in terms of financial transactions?
Debit and credit are two sides of the same coin in financial transactions. Debit means money is being taken out of an account, while credit means money is being added to an account. Debit decreases the balance, while credit increases it. Think of debit as a subtraction and credit as an addition in your financial records.
Is it possible to establish credit with debit cards with the MasterCard or Visa logo if you choose the credit option when you make purchases with them?
No your debit card is linked to a checking or savings account which is not on your credit history.
Is prepaid insurance a debit or credit?
Debit
Is rent revenue credit or debit?
All revenues has credit balances as default balance like wise rent revenue also has credit balance as default balance instead of debit balance because all expenses has debit as default balance.
Does cash on hand have a debit or credit balance?
credit
How does a debit credit card differ from a standard credit card?
A debit card differs from a standard credit card in a few ways. One of the main advantages of a debit card is that money can be withdrawn directly from one's bank account instead of borrowing one from a financial institution.
Is a refund to a credit card a debit or credit?
Debit
Is cost of sale credit or debit?
Credit or debit
What are the rules of debit and credit for assets?
There are three rules for recording transactions: Personal account Debit the receiver. Credit the giver. Real account Debit what comes in. Credit what goes out. Nominal account Debit all expenses.There are three Golden Rules for Debit & Credit, whole accounting is depend on these three rules :- 1. Debit what comes in & Credit what goes out. 2. Debit the receiver & Credit the..Because to make the things debit on debit side and credit on credit side, for that purpose its important to memorize the debit and credit rule.
