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Rn-p
A debit is a negative entry. True False?
                     
 




crgrier
False. A debit is half of double-entry bookkeeping, the other half being credit. Most basically, a debit is the left column and a credit is the right column in bookkeeping. Both are entered as positive numbers. The total of all debits should equal the total of all credits.

There is usually confusion with these terms because credit is used differently in common speech and debit is often confused with debt. To avoid confusion over debits and credits, avoid thinking of them in the way that they are used in everyday language, which often refers to a credit as increasing an account and a debit as decreasing an account. Whether a debit or a credit increases or decreases an account balance depends on the type of account. Asset and expense accounts are increased on the debit side, and liability, equity, and revenue accounts are increased on the credit side.


magicalmke
Rating
False. Debits are expenses (negative) on the income statement but our assets (positive) on the balance sheet.


carolyn_brand
false


origamimark
Rating
true.


LisaHW
True


Miss Smartypants
Rating
TRUE


limgrn@sbcglobal.net
Rating
in the techincal sense .. yes..


rutchy
Rating
true


and so
Rating
true


w_sandlin
TRUE


fibreglasscar
Rating
Negative for the owner of the books. Positive for somebody, though!


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