Show double-entry procedure or duality, Accounting Basics

Assignment Help:

Q. Show double-entry procedure or duality?

In every business transaction we record the total dollar amount of debits must equal the total dollar amount of credits. While we debit one account (or accounts) for USD 100 we should credit another account (or accounts) for a total of USD 100. The accounting requirement that every transaction be recorded by an entry that has equal debits and credits is called double-entry procedure or duality.


Related Discussions:- Show double-entry procedure or duality

Could the choice of recording a capital asset impairment, Could the choice ...

Could the choice of recording a capital asset impairment or not, impact the financial statements significantly? Explain.

High-fiber diet for diverticular disease, Q. High-fiber Diet for diverticul...

Q. High-fiber Diet for diverticular disease? For mild symptoms, a clear liquid diet is recommended. More serious cases may require hospitalization, intravenous feeding to rest

Evaluating revenue measure or system, Question : The several evaluative...

Question : The several evaluative criteria for evaluating revenue measure or system are: ? Yield ? Political expediency ? Ease of administration ? Consistency

Inventory, HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 w...

HOW TO RECORD INVENTORY AT NET REALISABLE VALUE ON JOURNAL100 words accepted#

What does the 2011, At December 31, 2011 and 2010, Miley Corp. had 180,000 ...

At December 31, 2011 and 2010, Miley Corp. had 180,000 shares of common stock and 10,000 shares of 5%, $100 par value cumulative preferred stock outstanding. No dividends were decl

Goal of financial reporting, Q. Goal of financial reporting? The second...

Q. Goal of financial reporting? The second goal of financial reporting is to provide information to help present and potential investors and creditors and other users in assess

#titlefundamenat english.., Of the two, who is the ____ , Marie Antoinette ...

Of the two, who is the ____ , Marie Antoinette or Anne Boleyn? (Points : 2) more famous most famous famouser Question 3. 3. The traffic where we live is _____

Cost of capital, Provide an argument for including or not including current...

Provide an argument for including or not including current liabilities in the cost of capital calculation

Specific identification method of inventory, Q. Specific identification met...

Q. Specific identification method of inventory? Specific identification- The specific identification method of inventory costing put together the actual cost to an identifiable

Explain the term - federal income tax, Federal income tax Except specif...

Federal income tax Except specifically exempted, all income (illegal and legal) is subject to personal income tax. Withholding depends on 1) employee's gross earnings, 2) emplo

Write Your Message!

Captcha
Free Assignment Quote

Assured A++ Grade

Get guaranteed satisfaction & time on delivery in every assignment order you paid with us! We ensure premium quality solution document along with free turntin report!

All rights reserved! Copyrights ©2019-2020 ExpertsMind IT Educational Pvt Ltd