Double Entry Notes

DOUBLE ENTRY You will have seen that every exploit has 2 effects and that you can have: 2 items increase; 1 item increasing and 1 item diminish or; 2 items decreasing |1 January |6 January |8 January | |Bank | with child(p) |Van |Cash |Bank | convictionors | | | | | | | | We need to eternalise these transactions distributively time a transaction is made, we participate the transactions in a book (ledger). The general/ nominal phrase ledger Each summon in the book contains a different note. An bank note is a place w here all the schooling relating to a particular asset, liability, income, expenditure or capital is recorded. e.g. at that place will be an account for buildings, electricity, sales, loans, etc.

The double-entry system divides each page into 2 halves so that a buildings account whitethorn look like: |Buildings | | | | |! | | |Debit (Dr.) |Credit (Cr.) | | | | This type of account is often referred to as a T account. The left-hand get of the page is called the debit side. The right-hand side of the page is called the credit entry side. [pic] Every building bought will be listed in this...If you want to get a full essay, set out it on our website: BestEssayCheap.com

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