Once you make the decision what kind of shooting range you want, consider whether you are the kind of person who can operate under strict federal, state and local regulations, including safety, insurance, record keeping and reporting requirements.
(A debit entry in an expense account ultimately causes the credit balance in an owner's equity capital account to decrease.) If the company incurs the $500 repair expense but does not pay cash, the company will need to increase its liabilities. The increase to a liability account is achieved with a $500 credit.
Â· just now. 1  Debit Expense. 2  A debit to an expense account means that you have either decreased cash or increased a liability (accounts payable), you have increased the expense for that period. 3  I believe it would be increases in assets. 4  none, debit to expense account means nothing.