Show debit and credit column, Accounting Basics

Q. Show Debit and Credit column?

- Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited.

- Credit column. In the credit column the sum of the credit is on the same line as the title of the account credited.

Posted Date: 7/2/2013 12:59:16 AM | Location : United States







Related Discussions:- Show debit and credit column, Assignment Help, Ask Question on Show debit and credit column, Get Answer, Expert's Help, Show debit and credit column Discussions

Write discussion on Show debit and credit column
Your posts are moderated
Related Questions
Q. FIFO under perpetual inventory procedure? FIFO under perpetual inventory procedure in perpetual inventory procedure the ending balance in the Merchandise Inventory account r

An invoice for product X totals $1,200 and is dated July 6, 2000 with terms 2/10-60X. If the invoice is paid on September 3, 2000, what is the net amount of payment? A. $912

Why is it more difficult to account for the inventory of a manufacturing firm than for that of a merchandising firm?


Determine about the Sales returns and allowances Allowance results when a buyer decides to keep defective or damaged goods though at a reduction from the original price.

Q. What is depreciable amount? The dissimilarity between assets's cost and its estimated residual value is an asset's depreciable amount. To persuade the matching principle the

The Bayside Company uses the LIFO cost flow method to value inventory. In the current year, profit at Bayside is running unusually high. The corporate tax rate is also high this ye

Q. Explain about Purchase discounts? Purchase discounts frequently companies purchase merchandise under credit terms that permit them to deduct a stated cash discount if they p

After the closing entries are posted to the ledger, each revenue account will have a zero balance: a. a zero balance, b. a debit balance, c. a credit balance, or d. either a debi

Liz Marett is the chief financial officer for Fulton Restaurants. She delivered the following comments in a recent conference call with analysts that follow the company: "20X5