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3537701
What Is The Accounting Equation?
Descrição
Help me to learn the accounting equation and what debit and credit mean.
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Mapa Mental por
alysonbooker_
, atualizado more than 1 year ago
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Criado por
alysonbooker_
aproximadamente 9 anos atrás
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Resumo de Recurso
What Is The Accounting Equation?
Assets = Liabilities + Owners Equity and Profit
What is a debit entry?
Debit is an accounting entry which means it would increase an asset or decrease a liability
Debit is amount owed to a supplier or company
What is a credit entry?
Credit is an accounting entry which means it would increase a liability or decrease an asset
Credit is an amount received by a customer from a supplier if any goods have been sent back
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