Question

is losses debit or credit

Answer 1

Expenses and losses are debited . Expenses normally have their account balances on the debit side (left side). A debit increases the balance in an expense account; acredit decreases the balance. Since expenses are usually increasing, think "debit" when expenses are incurred.

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Answer 2

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

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as per above rules it clearly defines for the losses for the company its debited for the journal entry under the head of nominal A/c.

Hope its useful..!!

Answer 3

3 golden rules

• debit the receiver , credit the giver

• debit what comes in , credit what goes out

• debit all the expenses and losses , credit all the incomes and gains

----------------------------------------------------------------------------------------------------------------

as per above rules it clearly defines for the losses for the company its debited for the journal entry under the head of nominal A/c.

Hope its useful..!!