accounting
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how do i know what to put debit and what to put credit
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income n creditors r credit
expenses n debtors r debit
simple boh
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look at the balence sheet and profit/loss accounts lo..
Revenue, Assets are DEBIT for increases
Expenses, Liabilities and Capital are CREDIT for increases -
First you must understand the different types of a/c. And you must know how to do double entries, ie. one debit and one credit.
For Assets a/c type
-An increase of asset will be recorded on the debit side of the a/c
-A decrease of asset will be recorded on the credit side of the a/c
For Expenses a/c type
-An increase of expenses will be recorded on the debit side of the a/c
For Liabilities a/c type
-An increase of liabilities will be recorded on the credit side of the a/c
-A decrease of liabilities will be recorded on the debit side of the a/c
For Revenue a/c type
-A gain of revenue will be recorded on the credit side of the a/c -
oie wrong leh.Originally posted by 105090:look at the balence sheet and profit/loss accounts lo..
Revenue, Assets are DEBIT for increases
Expenses, Liabilities and Capital are CREDIT for increases
Assets, Expenses are debit when increased.
Liabilities, Revenue are credit when increased.
thats why you can have.
Dr Cash
Cr accounts payable
Dr accounts receiveables
Cr revenue
Should be like this. -
you're right.Originally posted by stellazio:oie wrong leh.
Assets, Expenses are debit when increased.
Liabilities, Revenue are credit when increased.
thats why you can have.
Dr Cash
Cr accounts payable
Dr accounts receiveables
Cr revenue
Should be like this.
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aiya i was looking at balence sheet and profit/loss account. i last studied this 4 years ago
the worse part of accounting is the reduing balence depreciation stuff and all those bad debts crap.
good luck TS -
nono, i used wrong example.Originally posted by Darkness_hacker99:you're right.
who the hell gets a
Dr Cash
Cr AP
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I love Accounting, and my POA teacher invest alot of time in me..Originally posted by 105090:aiya i was looking at balence sheet and profit/loss account. i last studied this 4 years ago
the worse part of accounting is the reduing balence depreciation stuff and all those bad debts crap.
good luck TS
But in the end, I chosen Science course because my passion is there.
I kinda disappoint my POA teacher.
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Originally posted by stellazio:nono, i used wrong example.
who the hell gets a
Dr Cash
Cr AP
Dr AP
Cr Cash -
wrong, the worse part of accounting is consolidation of parent,associate and subsidiary companies.Originally posted by 105090:aiya i was looking at balence sheet and profit/loss account. i last studied this 4 years ago
the worse part of accounting is the reduing balence depreciation stuff and all those bad debts crap.
good luck TS -
should beOriginally posted by Darkness_hacker99:
Dr AP
Cr Cash
Dr Epenses
Cr AP -
For some reasons.. I find Accounting is more easier than Science..
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FA sux!!!
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so what is correct
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X2Originally posted by Darkness_hacker99:For some reasons.. I find Accounting is more easier than Science..
students says,
accounting is "dead". just play around with figures and common sense.
Science (most aspects) is so much alive and broad. hard to score -
1st u need to know the nature of the accounts that u open.
For example .
Debitors is debit in nature , when u provide goods or etc stuff, and they never pay u , u debit their accounts.
Creditors are credit in nature, meaning u own them money , credit their accounts when u own them more money.
This should be the basics of the accounting , knowing the nature of the accounts kinda help u.
correct me if i'm wrong ... i nv touch accounts for like 3 yrs
There is more to go thou =x
Always rmb there is a balance in the accounts , when u debit / credit some accounts, there will always be a credit / debit in some where -
what's dr cash - dr? cr accounts payable - cr?Originally posted by stellazio:oie wrong leh.
Assets, Expenses are debit when increased.
Liabilities, Revenue are credit when increased.
thats why you can have.
Dr Cash
Cr accounts payable
Dr accounts receiveables
Cr revenue
Should be like this. -
ok for example ,Originally posted by thousandisland:what's dr cash - dr? cr accounts payable - cr?
Cash in hand increase by $500 , u debit $500 in the accounts .
But where u get that $500 from ?
that $500 will account in credit side of some accounts like sales or etc -
This is not always necessarily true. It depends on which party's Accounting books you toking about. But for the sake of simplicity, Kenashi knows his work lor........Originally posted by Kenashi:income n creditors r credit
expenses n debtors r debit
simple boh 
I'm put in a recommendation to Kenashi's boss to give him more work...... -
Originally posted by Darkness_hacker99:First you must understand the different types of a/c. And you must know how to do double entries, ie. one debit and one credit.
For Assets a/c type
-An increase of asset will be recorded on the debit side of the a/c
-A decrease of asset will be recorded on the credit side of the a/c
For Expenses a/c type
-An increase of expenses will be recorded on the debit side of the a/c
For Liabilities a/c type
-An increase of liabilities will be recorded on the credit side of the a/c
-A decrease of liabilities will be recorded on the debit side of the a/c
For Revenue a/c type
-A gain of revenue will be recorded on the credit side of the a/c
Eh Duckie, dun confuse TS lah............... sekali TS double pay Creditors....... -
u sure anotOriginally posted by Omniknight:how do i know what to put debit and what to put credit -
so in the end TS understand what they all are talking abt ?
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listen to stella.
i think he got diploma in accounting. -
Originally posted by :Eh Duckie, dun confuse TS lah............... sekali TS double pay Creditors.......
