"Debits" Pronounce,Meaning And Examples
"Debits" Natural Recordings by Native Speakers
"Debits" Meaning
Debits refer to entries on a company's ledger or general journal that involve a reduction in a corresponding asset account or an increase in a corresponding liability or equity account. In other words, debits are the opposite of credits, and they record increases or decreases in certain accounting balances.
"Debits" Examples
Debits
Debits are a fundamental concept in accounting and finance, and here are 5 examples to illustrate their usage:
Example 1: In a company's financial statement, debits are recorded when a customer pays their outstanding invoice.
Debits: Cash $1,000
Credits: Accounts Receivable $1,000
Example 2: When an employee receives their paycheck, their account is credited with gross pay, but debits are recorded for social security and income taxes withheld.
Debits: Social Security $50
Debits: Income Tax $100
Credits: Gross Pay $1,500
Example 3: A bank account's balance increases when deposits are made, causing debits to the bank account and credits to the deposit account.
Debits: Checking Account $500
Credits: Savings Account $500
Example 4: In the context of stock trading, debits represent the amount an investor borrows to purchase securities.
Debits: Stock Purchase $10,000 (borrowed from broker)
Credits: Cash $10,000 (used to buy stocks)
Example 5: In bookkeeping, debits represent expenses incurred by a business, such as utility bills or employee salaries.
Debits: Utilities Expense $100
Credits: Cash $100
In each of these examples, debits serve as a type of transaction that increases an account's value, while credits decrease an account's value.
"Debits" Similar Words
Debilitation
Debilitation is a noun that refers to the process or fact of becoming weak or helpless, or a condition of being weakened or made poor in strength, health, or vitality. It can also refer to the act of weakening or degrading something or someone.
Debilitative
Attributive adjective form of debilitate, meaning weakened or made weak, especially in strength, courage, or morale.
Debility
Debit
Debit refers to a payment made or a transaction noted in a financial record, often in the form of an entry in a ledger or account book. In a broader sense, it can also refer to a loss or a negative balance in a specific account or category, such as a debit card or a debit in a game. In an accounting sense, a debit is an entry on the left side of a ledger, typically increasing an asset or expenses, while a credit is an entry on the right side, typically increasing liabilities or equity.
Debitage
Debitage refers to the small flakes of stone or other debris that are removed and discarded during the manufacture of stone tools, such as knives, chisels, and scrapers. It is often found at archaeological sites and can provide valuable information about the technology and manufacturing methods used by ancient cultures.
Debited
To debit (verb) means to subtract or reduce a value or amount from a particular account, account balance, or sum. It is often used in accounting and financial contexts. For example, "The company debited the additional expense from its profit" or "The account was debited with a $50 fee".
Debiting
Debitors
Debtors are individuals or organizations that owe money to another party, such as a creditor. They are entities that have borrowed funds or have unpaid debts to be settled. The term is often used in accounting and financial contexts to refer to customers or clients who have outstanding invoices or bills to be paid.
Deblocking
Deblocking is a process in image and video processing that removes the ringing artifacts caused by the quantization of transforming a signal into a compressed format.
Debonair
Debonair refers to someone who is charming, refined, and suave, often in a romantic or charming way.
Debonaire
Debonaire refers to a charming, suave, and affable person who is sensitive to the feelings of others. It describes someone who is polite, courteous, and gracious in their behavior, often with a sense of elegance and refinement.
Debonairity
Debonairity refers to a charming, suave, and sophisticated manner or attitude, often associated with a person who exudes confidence, poise, and elegance. It is a romanticized concept that evokes images of a dashing, well-dressed gentleman with a charming smile, witty remarks, and a knack for making people feel at ease.
Debonairly
Debonairness
Debone
To remove the bones from (meat, game, or fish) before cooking, typically for easier preparation or to make it more palatable.
Deboned