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  • Debits and Credits Using T Accounts Student Notes

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    Angela Edel
    620 visualizzazioni4 pagine
    Assets Items which have a financial value and are owned by the business enterprise. Liabilities Amounts owing by the business to other firms and people. Owner's Equity The owner's investment or equity in the business enterprise.

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    Assets Items which have a financial value and are owned by the business enterprise. Liabilities Amounts owing by the business to other firms and people. Owner's Equity The owner's investment or equity in the business enterprise.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    620 visualizzazioni4 pagine

    Debits and Credits Using T Accounts Student Notes

    Caricato da

    Angela Edel
    Assets Items which have a financial value and are owned by the business enterprise. Liabilities Amounts owing by the business to other firms and people. Owner's Equity The owner's investment or equity in the business enterprise.

    Copyright:

    Attribution Non-Commercial (BY-NC)
    Scarica in formato PDF, TXT o leggi online su Scribd
    Segnala contenuti inappropriati
    di 4

    Types of Accounts

    Assets
    Items which have a financial value and are owned by the business enterprise.

    Liabilities
    Amounts owing by the business to other firms and people.

    Owners Equity
    The owners investment or equity in the business enterprise.

    August 8, 2011

    Debits and Credits: Using T accounts

    Analyzing the Accounting Equation

    Assets:

    Liabilities and Owners Equity:

    Total amount of all Liabilities and Owners Equity

    August 8, 2011

    Debits and Credits: Using T accounts

    Left-handed Drivers
    Debit Credit

    Note: Debit does NOT mean decrease

    Note: Credit does NOT mean increase

    August 8, 2011

    Debits and Credits: Using T accounts

    Account Balances
    Assets
    Any Asset

    Liabilities + Owners Equity


    Any Liability

    Owners Capital Account

    August 8, 2011

    Debits and Credits: Using T accounts

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