Which of the following accounts are debited to record increases? a. expenses and liabilities b. assets and expenses c. assets and liabilities d. drawing and liabilities

Question

Business

Carlos Preston

6 December, 21:50

Which of the following accounts are debited to record increases? a. expenses and liabilities b. assets and expenses c. assets and liabilities d. drawing and liabilities

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Answers (1)

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Tyler Morgan · Answer 1

The answer is B. b. assets and expenses

Explanation:

Debit increases asset and expenses and credit decreases assets and expenses.

Credit increases revenue, owner's equity and liability while debit deceases revenue, owner's equity and liability