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Credit -- an accounting entry on the bottom or right of a balance sheet. Generally an increase inliabilities or capital or a reduction in assets. Opposite of credit is debit. Every credit in abalance sheet has a balancing debit. Credit has other usages, as in "You have to pay cash,your credit is no good." Or "we will credit your account with the refund."
i dont get how it is done
What are the elements of accounting assets Assets are items with money value which are owned by a business. Some instance are: cash, accounts receivable (selling services or g
Analysing and Recording Process Question A friend knows that you are studying the Business Accounting 1 course, so he approaches you and enquires about the steps of the ana
Q. Explain accounting cycle? Creditors, Investors as well as Managers use these statements in evaluating management's past decisions and as a basis for making future decisions.
Purchased trucks and office equipment for cash Metro paid USD 20000 cash on behalf of two used delivery trucks and USD 1500 for office equipment. Office equipment and Trucks ar
Q. Cash collection as point of revenue recognition? Several small companies record revenues and expenses at the time of cash collection and payment which may not take place at
The percentage analysis of changes of corresponding items in comparative financial statements is referred to as horizontal analysis. A. True B. False
Q. What do you eman by Purchases account? In periodic inventory procedure a merchandising company uses the Purchases account to record the cost of merchandise bought for resale
what is Accounts payable process?
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