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What type of entry is used to increase the owners equity account?

1. Debit

2. Credit

Accounting Financial Reporting Financial Accounting Accounting and Finance
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Question ajoutée par Mehboob Ali Laghari , Social Mobilization Team Incharge , TRDP-European Union
Date de publication: 2015/08/08
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muhammad nisar
par muhammad nisar , Administration , Federal Directorate of Education

Credit entry increase the owners equity account.

Ahmer Zamir
par Ahmer Zamir , Consultant , Saleem Associates & Co

The correct option is2) credit

Sayed Rubab Sayed
par Sayed Rubab Sayed , Finance Officer , The Next

Credit is my answer..................................

Utilisateur supprimé
par Utilisateur supprimé

2. Credit ............................. this entry will increase owners equity and the corresponding debit entry will be made in the asset section either being cash, bank or fixed assets

Shahbaz Hayder
par Shahbaz Hayder , Group Head of Finance , Sharif Group of Companies

Option2 is the right answer.

Sabir Hussain
par Sabir Hussain , Accounting Manager , Etihad Aviation Tours & Travels

According to Debit & Credit Rules

When Owner's equity increases then it is recorded on Credit Side.

 

Ans  Credit

Imdad Hussain Rajput
par Imdad Hussain Rajput , Assistant Sales Manager , Forego

Credit entry is used to increase owner Equity

Said Shaban
par Said Shaban , Accountant , Tri State Materials Testing

Correct answer is:2- Credit

Sridhar Rajagopal

According to Double entry all entries will have a debit and credit question itself is not clear

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