Question and answer
In your opinion, why do accountants debit asset accounts to increase them but credit liability accounts to increase them? Why do accountants debit expenses to increase them but credit revenues to increase them?
Assets are debit accounts and liabilities are credit accounts. Based on the accounting equation Assets = Liabilities + Owner's Equity. An increase in assets increases the left (debit side) of the accounting equation and increases owners equity. [ An increase in liabilities decreases owners equity. ]
s
Expert answered|debnjerry|Points 28470|
Question
Asked 3/18/2012 9:33:56 PM
0 Answers/Comments
This answer has been confirmed as correct and helpful.
Get an answer
New answers
Rating

There are no new answers.

Comments

There are no comments.

Add an answer or comment
Log in or sign up first.
33,420,214
questions answered
GET
Answers.
GET THE APP.
weegy*
*
Get answers from Weegy and a team of really smart live experts.
Popular Conversations
One gram of carbohydrate contains ____ calories. Question 1 ...
Weegy: One gram of carbohydrate contains 4 CALORIES. Muscle cramps are often associated with dehydration.
3/3/2021 3:47:27 PM| 17 Answers
Find the product. ( n + 8)( n - 2)
Weegy: a^2 - a - 20 = (a + 4)(a - 5) User: Factor k2 + 13 k + 12. Weegy: k^2 - 81 = (k - 9)(k + 9) User: Factor ...
2/25/2021 7:07:40 PM| 4 Answers
More than any other place, crashes happen
Weegy: More crashes happen at intersections than any other place. User: You are driving on an Interstate highway in ...
2/23/2021 3:31:38 AM| 2 Answers
How are drugs for hiv patients administered
Weegy: Drugs for HIV patients are typically administered: in a regimen of two to four drugs. User: Antimetabolites ...
2/23/2021 5:23:15 AM| 2 Answers
S
R
L
Points 157 [Total 1547] Ratings 0 Comments 157 Invitations 0 Offline
S
L
P
P
L
Points 109 [Total 5049] Ratings 1 Comments 99 Invitations 0 Offline
S
L
R
P
Points 58 [Total 2430] Ratings 0 Comments 58 Invitations 0 Online
S
L
1
Points 32 [Total 4599] Ratings 0 Comments 32 Invitations 0 Offline
S
L
1
1
1
1
1
Points 31 [Total 1631] Ratings 3 Comments 1 Invitations 0 Offline
S
L
P
Points 27 [Total 1498] Ratings 0 Comments 27 Invitations 0 Offline
S
Points 23 [Total 63] Ratings 0 Comments 23 Invitations 0 Offline
S
L
1
1
1
1
1
1
1
1
1
1
1
1
1
1
Points 21 [Total 3131] Ratings 2 Comments 1 Invitations 0 Online
S
Points 17 [Total 17] Ratings 1 Comments 7 Invitations 0 Offline
S
Points 10 [Total 40] Ratings 1 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.