Question: in double entry accounting system which debit entry will increase the ledger account or a buisness trasnasaction

in double entry accounting system which debit entry will increase the ledger account or a buisness trasnasaction

Step by Step Solution

There are 3 Steps involved in it

1 Expert Approved Answer
Step: 1 Unlock blur-text-image
Question Has Been Solved by an Expert!

Get step-by-step solutions from verified subject matter experts

Step: 2 Unlock
Step: 3 Unlock

Students Have Also Explored These Related Accounting Questions!

Q:

heet m 2 6 2 1 6 6 ? S Q n q t R 9 4 8 J m Q 4 t C D 3 In the double entry accounting system, which debit entry will increase the ledger account for a business transaction? Is this a correct option ?...

Q:

unadjusted trial balance, adjustment , adjusted trial balance, general journal, general ledger After some thorough investigation Max has decided to establish a manual double entry accounting system...

Q:

1. When a customer (buyer) returns merchandise purchased on credit, the a. customer should credit Accounts Payable. b. seller should credit Sales Returns and Allowances. C. customer should credit...

Q:

In the double entry accounting system maintained manually, a general journal ________. I should always consist of a single debit entry matched by a corresponding credit entry II should always end...

Q:

Part 2: Theory 56. Freight paid by the buyer in relation to the purchase of merchandise inventory which is to be held for sale form part of? a. Property, plant, and equipment b. Selling expenses c....

Q:

If Year 1 sales equal $750, Year 2 sales equal $840, and Year 3 sales equal 5900, the percentage to be assigned for Year 3 in a trend analysis, assuming that year is the base year, is a. 120%. b....

Q:

Question 1: For the attached table, identify the type of account as an asset, liability, equity, revenue or expense account. Then type debit or credit within the increase/ decrease columns to signify...

Q:

Question 1: For the attached table, identify the type of account as an asset, liability, or equity account. Then type debit or credit within the increase/decrease columns to signify whether a debit...

Q:

1: For the attached table, identify the type of account as an asset, liability, equity, revenue or expense account. Then type debit or credit within the increase/decrease columns to signify whether a...

Q:

Objective: The goals of this assignment is to reinforce the mechanics of accounting. Assignment: The double entry accounting system dates back to Italian merchants from the 1400s. While the detailed...

Q:

Binomial Geometric Your Startup paid Marketing Inc $320,000 to promote Startup's Name to Industry executives. After six months, Marketing Inc sends you a report stating, 30% of Industry executives...

Q:

On January 1, 2020, Allen Corp. issued a 3-year, zero-interest-bearing note payable for $55,000 to Town Corp. for a cash receipt of $55,000. In lieu of interest payments, Allen Corp. agreed to sell...

Q:

Seala cuales de las siguientes afirmaciones son incorrectas Seleccione la respuesta correcta 1. El leasing es solo para personas naturales 2. El leasing solo para comprar 3. La industria del leasing...

Q:

Discuss qualitative research designs in detail?