What Is The Accounting Equation?

Descrição

Help me to learn the accounting equation and what debit and credit mean.
alysonbooker_
Mapa Mental por alysonbooker_, atualizado more than 1 year ago
alysonbooker_
Criado por alysonbooker_ quase 9 anos atrás
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Resumo de 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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