Decreases to liabilities and owners’ equity are recorded on the [...] side.
Answer
left side
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Open it Increases to liabilities and owners’ equity are recorded on the right side of a T-account; decreases to liabilities and owners’ equity are recorded on the left side.
Original toplevel document
APPENDIX 23: A DEBIT/CREDIT ACCOUNTING SYSTEM sset, an entry is made to the left-hand side of a T-account. A decrease to an asset is recorded on the right side of a T-account. Liabilities and owners’ equity are referred to as the right side of the balance sheet (and accounting equation). <span>Increases to liabilities and owners’ equity are recorded on the right side of a T-account; decreases to liabilities and owners’ equity are recorded on the left side.
At any point in time, the balance in an account is determined by summing all the amounts on the left side of the account, summing all the amounts on the right side of the a
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