0 past simple and past participle of debit --
1 to take money out of an account or keep a record of this: --
It is excess over what was debited in the basic year of 1913, after the 1913 figures had been adjusted to the present-day prices.
The same thing applies to the expenses which a company may have debited against profits.
They overcharged and debited themselves with £3,000,000, which was placed on one side of the account.
Local authority rented income is not allocated to meet any particular item or items of expenditure debited to housing revenue accounts.
They are debited with the cost of them now.
Local authority rental income is not committed or allocated to meet any particular item or items of expenditure debited to housing revenue accounts.
Their trade receipts are credited and ordinary revenue expenditure is debited in the normal way.
This valuation is to take 3½ years and this period must be debited against the cost of the valuation.
