Debit Side (Noun)
Meaning
Account of payments owed; usually the left side of a financial statement.
Classification
Nouns denoting possession and transfer of possession.
Examples
- The accountant carefully reviewed the debit side of the ledger to ensure all expenses were accurately recorded.
- The company's financial statement showed a significant increase in liabilities on the debit side of the balance sheet.
- When preparing the trial balance, the bookkeeper made sure to list all the debit side accounts first.
- The debit side of the income statement revealed a substantial amount of depreciation expenses for the quarter.
- The auditor scrutinized the debit side of the cash flow statement to identify any discrepancies in the company's payment records.