Why assets and expenses debited
Answers were Sorted based on User's Feedback
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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