What Is The Accounting Equation?

Descripción

Help me to learn the accounting equation and what debit and credit mean.
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Resumen del Recurso

What Is The Accounting Equation?
  1. Assets = Liabilities + Owners Equity and Profit
    1. What is a debit entry?
      1. Debit is an accounting entry which means it would increase an asset or decrease a liability
        1. Debit is amount owed to a supplier or company
        2. What is a credit entry?
          1. Credit is an accounting entry which means it would increase a liability or decrease an asset
            1. Credit is an amount received by a customer from a supplier if any goods have been sent back
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