Answer:
Credited
Explanation:
Equity Account <em>increase</em> on the credit side and <em>decrease </em>on the debit side.
So, when the account increased, we say it has been credited. This means further stock has been issued to new or existing owners.
Answer:
Date Accounts Titles Debit Credit
Dec-31 Salaries expense $2,300
Salaries payable $2,300
Dec-31 Depreciation expense $200
(Furniture
)
Accumulated depreciation $200
(Furniture)
Dec-31 Insurance expense $450
Prepaid Insurance $450
Dec-31 Supplies expense $80
Supplies $80
Answer:
mechanic's lien
Explanation:
From the question we are informed about how Brewery Company’s debt to Credit Service is past due. Credit obtains a judgment against Brewery, but the firm refuses to pay. Credit asks the court to order the seizure of Brewery’s property. In this case, This is a request for mechanic's lien.
Mechanic's lien can be regarded as security interest as regards title of a particular property, this is for the gains of everyone that are involved in supplier of labor as well as materials for the improvement of the property. The lien covers the real property as well as personal property. Mechanic's lien can be regarded as guarantee of payment for contractors as well as construction firms that are involved in building or repairing of structures.
