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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."
is accounting is an art or science
How to create account for barter transactions? As My Company is providing a service to another company and that company is reimbursing us with his service.
Encik Farid, a sole trader, started his business on 1 May 2010 under the name Farid Enterprise. The following are his business transactions for the month of May a. Encik Farid
Some the other concepts, as for example: the Matching concept, the Dual Aspect concept and the Realization concept are discussed in further sections, and as they have not been take
Adjustments for financial reporting - Explain the basic characteristics of the cash basis and the accrual basis of accounting. - Recognize the reasons why adjusting entries
Define Accounting. Briefly explain the accounting concept which guide the accounting at the recording stage?
Q. What is FOB shipping point? FOB shipping point signifies free on board at shipping point. The buyer acquires all transportation costs after the merchandise has been loaded o
what is the implications of applying accounting concepts wrongly
Q. Taking a physical inventory in periodic inventory procedure? Taking a physical inventory in periodic inventory Procedure Company personnel determine ending inventory cost by
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