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annie shah
Oct 31, 2009, 07:49 AM
tel me the effects of transactions? debit accounts payable, credit cash.
annie shah
Oct 31, 2009, 07:53 AM
in 1st cash increase laibility decrease, in 2nd cash decrease liability also decrease........ is it rite or not?
pready
Oct 31, 2009, 02:38 PM
Debits to an asset increase the account, while a Credit decreases the account.

A Credit to a Liability and Equity accounts increase the account, while a Debit decreases the account.
morgaine300
Nov 1, 2009, 06:47 PM
in 1st cash increase laibility decrease, in 2nd cash decrease liability also decrease........ is it rite or not?

Cash won't do a thing to liabilities, because it's not one. To do something to a liability, you have to do it directly to that liability. Doing something to one account cannot affect another account.