What will increase the following account items – Debit or Credit? Fill in the blanks. Assets...

What will increase the following account items – Debit or Credit? Fill in the blanks. Assets _____________ Equity _____________ Losses _____________

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Expert Solution

Assets	Debit
Equity	Credit
Losses	Debit

An increase in assets ie cash,accounts receivable etc. would be a debit to such assets.

On the other hand,an increase in equity ie increase in common stock,retained earnings etc. would be a credit to such items.

Increase in expenses or decrease in revenue would mean more losses and hence increase in debit would mean more losses to the company for a period.

jeff jeffy answered 1 year ago

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