This is really not as simple as writing debit balance is or credit balance is:
In accounting Debit literally means the left side and credit means the right side. The difference between a debit balance "account" and a credit balance "account" is:
Debit balance accounts increase with a debit and decrease with a credit
Credit balance accounts increase with a credit and decrease with a debit
Assets maintain a debit balance
Liabilities and Owners Equity maintain a credit balance
The above answer refers to accounting, however, I noticed that you also put this in Credit and Debit cards: using a bank debit or credit card is the opposite of the view you see doing accounting.
On a Credit card statement for example, a credit balance would mean that the credit card company is "crediting" you with a certain amount, meaning you do not owe that amount anymore. A debit would be a rise in the balance you "owe them".
There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).
1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
debit balance
debit
The balance is the difference between the totals of the credit and debit sides of a financial account.
the main difference between debit and credit are how they are processed. when you use debit you will be asked to enter a "personal" pin or code. debit transactions have a limit of how many times you've used your debit card that day. when you use credit you are protected from liability. if someone steals your credit card, and you report it, you will not be liable for their credit transactions. so you are less protected if you use credit over debit. for Debit you can spent your maximum money in your balance bank account. but if if credit card, this is like a loans or there's maximum balance in your credit.
There are two main differences that stand out between a Debit Account and a Credit Account, those are;A Debit Account always maintains a Debit Balance, meaning the account increases with a Debit to that account and decreases with a Credit to that account. These are generally Asset Accounts.A Credit Account is just the opposite, A Credit Account maintains a Credit Balance, meaning that the account increases with a Credit and decreases with a Debit, these accounts are usually used for Liabilities and Owners Equity (Stockholders Equity).
1. Credit Turnover is the summation of all the credit transactions in your account during the statement period.2. Debit Turnover means the summation of all the debit transactions in your account during the statement period.3. (Opening balance of account) + (Credit Turnover) - (Debit Turnover) = Closing balance of account.
it is a debit balance because it decreases owner's equity, which has credit balance.
credit
Premises is an asset for business and like all other assets of business which has debit balance as normal default balance it also has debit balance.
debit balance
debit
A debit is money paid out or a loss, a credit in income or a gain.
Debit in your Income statement credit in your balance sheet.
it is a debit balance because it decreases owner's equity, which has credit balance.