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Why assets and expenses debited
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Answer / neha
Its depend upon the golden rules of account. They are:-
1) Personal Account: "Debit the Receiver,Credit the Giver".
2) Real Account: "Debit what comes in, Credit what goes
out".
3) Nominal Account: "Debit all expenses & losses, Credit
all incomes & gains".
Hope u'll get ur answer.
| Is This Answer Correct ? | 10 Yes | 3 No |
Answer / saddam hussain
Assets and Expenses are debited because the normal balance
of assets and expenses are debit.so when they are increased
then debit and when decreased then credit.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / faheem khan
when expenses r made owner's equity reduces and income is occured owner' sequity increases
| Is This Answer Correct ? | 1 Yes | 0 No |
Answer / anil yadav
Assets and expences debitd
All expences in debited.
Assets expences so shown in debitd
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / rich kofi
expenses are debited because they reduce bank or cash balances.
| Is This Answer Correct ? | 0 Yes | 2 No |
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Why in a cash book receipts are debited while the same if received in our books recepits are credited. Why does cash book have a rule to debit receipts and credit payments. For example if am paying the cash that i owe the company or firm i debit in my books(cash) on the debit side and should credit in the cash book but i cant do that cash book take receipts on the debit side as per the general . please clarify many thanx in advance
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