-Expenditures
debit equipmentcredit accounts payable
No Liabilities will not be increased they will be decreased by debits
Yes. And Liabilties are increased by credits.
Cash, Accounts Receivable, Supplies, Prepaid Insurance, Equipment, Accumulated Depreciation-Equipment, Accounts Payable, Wages Payable, Capital
[Debit] Office Equipment 3000 [Credit] Cash 1500 [Credit] Accounts payable 1500 When remaining amount paid after 30 days [Debit] Accounts Payable 1500 [Credit] Cash 1500
true
debit purchases 70000credit cash 20000credit accounts payable 50000
Debit to Equipment and a credit to Accounts Payable
Before Purchase:Assets 600,000Liabilities 250,000Equity 350,000Total L&E 600,000Assets are debited (increased) by 75,000 from the purchase of the equipment. Accounts payable, a liability, is credited (increased) by 75,000. Assets are increased, Liabilities, are increased, Equity remains the same.After Purchase:Assets 675,000Liabilities 325,000Equity 350,000Total L&E 675,000
Accounts Payable are the amounts owing by the business to its creditors.in a situation where the Accounts Payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
Accounts Payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.
accounts payable are the amounts owing by the business to its creditors.in a situation where the accounts payable balance has increased in the trial balance means that the amount owing by the business has increased probably due to more credit purchases.