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An increase in expenses will typically result in a debit entry on the financial statement. This means that the expense account will be debited, reflecting the increase in expenses incurred by the business.

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5mo ago

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Is an increase in expense recorded as a debit or credit on the financial statements?

An increase in expense is recorded as a debit on the financial statements.


Is accrued expense a financial liability?

If you are doing adjusting entries, an accrued expense will affect a balance sheet account (payable) and an income statement account (expense). Such as accrued interest at the end of year would be: Interest Expense (Debit) Interest Payable (Credit)


Is depreciation expense a debit?

All expenses recognized in a period are debits. While depreciation expense is a debit (increase in expense) shown in the income statement, accumulated depreciation is usually the offsetting credit (contra-asset reduction in balance sheet).


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Is an increase to your bank statement a debit or credit?

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Why does your bank statement show a credit for an increase in your cash balance?

It's because the bank statement is written from the POV (bank's point of view). In the double entry system, a debit entry is an increase in an asset or expense/decrease in income or a liability while a credit entry is an increase in a liability or income/decrease in an asset or expense. When you pay money into the bank this increases the amount the bank owes you or decreases the amount you owe the bank. From the bank's point of view this means an increase in the amount they owe you (their liabilities have increased) or a decrease in the amount you owe them (their assets have decreased). Hence, an increase in your cash balance at the bank is a credit entry on the statement your bank sends you.


Is a increase in rent expense a debit or credit?

I say it is a debit


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How do you calculate the Bad Debt Expense on the income statement report?

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Is an Increase in Depreciation Expense a credit or debit?

An increase in depreciation expence is a credit to the accounts as it reduces asset value that was once debited


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The total amount of cash credit from unsettled activity in the financial statement is the sum of money received but not yet processed or finalized.