A debit entry increases assets,decreases liabilities,or decreases stockholders' equity.

Question

Quizplus · Accepted Answer

A debit entry means that something is being added or increased in the accounting equation. Assets are on the left side of the equation, so a debit entry would increase assets. Liabilities and stockholders' equity are on the right side of the equation, so a debit entry would either decrease liabilities or decrease stockholders' equity.

A Debit Entry Increases Assets,decreases Liabilities,or Decreases Stockholders' Equity