Untitled

Page 1

basic notes

Accounting equation = liabilities+capital which also can be share holder equility.

The accoutning equatiom displays that all assets are either financed by borrowing money or paying with the money of company share holders.

debit= an entry recoreding a sum owed,listed on the left hand side or colunm of an account.

or either remove amount of money from customers bank account.

credit= an entry recoring a sum recieved,listed on the right handside or colunm of an account.

assets= economic resource anything capbale of being owned