the credit side of an owners' equity account implies something favorable.
举一反三
- When an expense account is increased: A: an amount is entered on the credit side of the expense account. B: stockholders' equity is not affected. C: an amount is entered on the debit side of the expense account. D: cash must always be credited.
- The owner's withdrawal account normally has a credit balance since it is an equity account.
- Revenues can lead to an increase in the owners’ equity, and therefore, the increase in the owners’ equity should be recognized as the income of a firm. ( )
- Company receive the money of the loan, $200 000, and deposit it in its bank account, which side should we record the account Cash in bank? A: debit B: credit
- Assets= liabilities + owners’ equity