Does a debit or credit increase an asset account?
singleAnswer
debit
Debits and credits
asset account
Debits and credits Chart of accounts Asset Expense Construction in progress Book value Double-entry bookkeeping system Depreciation Partnership accounting Balance sheet
In the accounting equation, Assets = Liabilities + Equity, so, if an <b>asset account</b> 
increases (a debit (left)), then either another <b>asset account</b> must decrease (a&nbsp;... Common examples of <b>asset accounts</b> are cash in hand, cash in bank, real estate, 
inventory, prepaid expenses, goodwill, and&nbsp;... Examples of intangible <b>assets</b> include goodwill, copyrights, trademarks, patents 
and computer programs, and financial <b>assets</b>, including such items as <b>accounts</b>&nbsp;... Expenditure is an outflow of money to another person or group to pay for an item 
or service, ... expense account (an income statement account) and a credit to 
either an <b>asset account</b> or a liability account, which are balance sheet accounts. ... accrued expenses, inventory, cash, and others. When the construction in 
progress is completed, related long-term <b>asset account</b> is debited and CIP 
account is&nbsp;... In accounting, book value is the value of an <b>asset</b> according to its balance sheet 
<b>account</b> balance. For <b>assets</b>, the value is based on the original cost of the <b>asset</b>&nbsp;... <b>Assets Accounts</b>: debit entry represents an increase in assets and a credit entry 
represents a decrease in assets. Capital Account: credit entry represents an&nbsp;... The group depreciation method is used for depreciating multiple-<b>asset accounts</b> 
using a similar depreciation method. The assets must be similar in nature and&nbsp;... Investment of assets other than cash[edit]. If a partner invested an asset other 
than cash, an <b>asset account</b> is debited, and the partner&#39;s capital account is 
credited&nbsp;... A small business balance sheet lists current <b>assets</b> such as cash, <b>accounts</b> 
receivable, and inventory, fixed <b>assets</b> such as land, buildings, and equipment,&nbsp;...
debit
Debits and credits