Double Entry and Financial Statements
- Created by: Danny Davenport
- Created on: 23-04-13 09:20
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- Double Entry Book Keeping and Financial Statements
- 1) Rules
- Debits (Left side) and Credits (Right side)
- Assets (Debit to increase), Liabilities (Credit to increase), Expenses (Debit), Revenue (Credit)
- 2) Types of Accounts
- Assets
- Land, Vehicles, Inventory, Cash
- Liabilities
- Bank Overdrafts, Loans, Equity
- Expenses
- Wages, Rent, Lighting, Advertising
- Revenues
- Sales of goods, rent receivable
- 3) What Goes Where?
- Income Statement
- Expenses and Revenues
- Balance Sheet
- Assets and Liabilities
- Income Statement
- Assets
- 2) Types of Accounts
- Assets
- Land, Vehicles, Inventory, Cash
- Liabilities
- Bank Overdrafts, Loans, Equity
- Expenses
- Wages, Rent, Lighting, Advertising
- Revenues
- Sales of goods, rent receivable
- 3) What Goes Where?
- Income Statement
- Expenses and Revenues
- Balance Sheet
- Assets and Liabilities
- Income Statement
- Assets
- 1) Rules
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