To decrease a liability account, is a debit or credit required?
Question:
To decrease a liability account, is a debit or credit required?
Fantastic news! We've Found the answer you've been seeking!
Step by Step Answer:
Answer rating: 66% (9 reviews)
To decrease a liability account a credit is required In accou...View the full answer
Answered By
Isabel Seraspi
I have experience teaching math, science, and English to students of all ages. I have also worked as a tutor in a college setting, helping students with their homework and preparing them for exams.
I believe that tutoring is a great way to help students learn. It allows students to get one-on-one help with their studies, and it gives them the chance to ask questions and get immediate feedback. Tutoring can also be tailored to the individual needs of the student, which is why I believe it is so effective.
I have seen firsthand how tutoring can help students improve their grades and confidence. I have also seen how it can help students who are struggling with a particular subject. I believe that tutoring is a great way to help students learn and succeed in school.
0.00
0 Reviews
10+ Question Solved
Related Book For
Introduction To AccountingAn Integrated Approach
ISBN: 9781119600107
8th Edition
Authors: Penne Ainsworth, Dan Deines
Question Posted:
Students also viewed these Business questions
-
1.Which of the following below is NOT an element of internal control? a. risk assesment b. monitoring c. information and communication d. behavior analysis ANSWER:D 2. Which of the following below is...
-
The Crazy Eddie fraud may appear smaller and gentler than the massive billion-dollar frauds exposed in recent times, such as Bernie Madoffs Ponzi scheme, frauds in the subprime mortgage market, the...
-
1. Mr. a sold goods for Rs. 300,000 toMr. B , Rs. 300,000 will be treated as _____________for business of Mr. A. a. Revenue b. Net profit c. Gross profit d. Operating profit 2. Cost incurred for...
-
Suppose the following game is repeated once (that is, played twice in total). Bridget Alex SB (40,40) (70,20) SA SA (20, 70) (30,30) (a) How many strategies does Alex have? (b) In an SPNE, what...
-
List and explain at least four proactive audit tests that could be performed to help detect a shell company scheme.
-
Taylor Corporation is contemplating issuing bonds to raise cash to finance an expansion. Before issuing the debt, the controller of the company wants to prepare an analysis of the cash flows and the...
-
Explain the use of forward contracts as a hedge of an unrecognized firm commitment. LO6
-
Dreiling Company borrowed $300,000 on January 1, 2017, by issuing a $300,000, 8% mortgage note payable. The terms call for annual installment payments of $40,000 on December 31. Instructions (a)...
-
PART 1: FALCON LTD A company has the following information in relation to a construction contract at 31 December 2020: Total Contract Value 3,800,000 Cost Incurred to date 1,794,000 Estimated cost to...
-
This case can be assigned as a group activity. Additional instructions and material for this activity can be found on the Instructor Resource site and in WileyPLUS. Kenmare Architects Ltd. (KAL) was...
-
What is an account and where is it located in a manual accounting system?
-
To decrease an asset account, is a debit or credit required?
-
Turnabout Enterprises provided the following information regard-ing book- tax differences for its first year of operations: Installment sales are a normal part of Turnabouts operations and so any...
-
What are the major immediate concerns for the HR manager in Austral Group SAA when merging two different organizational cultures - in this case, Peruvian and Norwegian cultures?
-
Explain the relation between the corporate, business and functional strategies. Please produce an in-depth explanation.
-
Consider the problem of terrorism during Radical Reconstruction. If you had been an adviser to the President, how would you propose to deal with the problem? Give a minimum of TWO examples and fully...
-
describe at least one element of an Airport Master Plan. Discuss the importance of this element and how it fits into the overall Airport Master Plan document to include its processes and objectives.
-
It is suggested that Wikipedia has replaced the hardback encyclopedia books, such Encyclopedia Brittanica. What other ways do you foresee technology changing businesses that have been around for...
-
SuperSpan Corporation is a foreign subsidiary of Port Corporation, a Canadian company. SuperSpan was acquired on January 1, 20X6. On this date, there was no purchase price discrepancy and the fair...
-
Identify Thank You mission, strategy and core competencies. Identify strategy changes that have taken place at Thank You since its founding in 2008. Your answer must in text references and must be...
-
In Problem 44, how much of the Whitman loss belongs to Ann and Becky? Beckys stock basis is $41,300. In problem At the beginning of the year, Ann and Becky own equally all of the stock of Whitman,...
-
Whindy Corporation, an S corporation, reports a recognized built-in gain of $80,000 and a recognized built-in loss of $10,000 this year. Whindy holds an $8,000 unexpired NOL carryforward from a C...
-
Flint, an S corporation with substantial AEP, reports operating revenues of $410,000, taxable interest income of $390,000, operating expenses of $260,000, and deductions attributable to the interest...
-
Cash from Operating Activities: ______________ Cash from Investing Activities: ______________ Cash from Financing Activities: ______________ Problem 2: Financial Ratios The GAP Macys 1 Current Ratio...
-
On January 1, 2021, Winky Enterprises issued 12% bonds dated January 1, 2021, with a face amount of $2,800,000. The bonds mature in 2030 (10 years). For bonds of similar risk and maturity, the market...
-
Using the following accounts and balances, prepare the stockholders' equity vection of the balance sheet. Pilty thousand shares of common stock are authorised, and 1,000 shares have been recoured,...
Study smarter with the SolutionInn App