06-24-2007, 07:59 PM
Accounting Formula:
Assets = Liabilities + Owner Equity
DR | CR CR
Assets are a debit type of account. Liabilities and Owner Equity are credit type of accounts.
When you debit a 'debit account' its amount increases. If you credit a 'debit account' it decreases.
When you debit a 'credit account' its amount decreases. If you credit a 'credit account' its amount increases.
Make sense?
Assets = Liabilities + Owner Equity
DR | CR CR
Assets are a debit type of account. Liabilities and Owner Equity are credit type of accounts.
When you debit a 'debit account' its amount increases. If you credit a 'debit account' it decreases.
When you debit a 'credit account' its amount decreases. If you credit a 'credit account' its amount increases.
Make sense?
[SIZE="1"]CLEP exams passed:
Management, Accounting, Marketing, Macroeconomics, Microeconomics
DSST exams passed:
Human Resources Management, Organizational Behavior, Statistics, Management Information Systems
Earned:
B.A. in Business Administration: Technology Management from Saint Leo University
M.S. in Leadership: Business Ethics from Duquesne University [/SIZE]
Management, Accounting, Marketing, Macroeconomics, Microeconomics
DSST exams passed:
Human Resources Management, Organizational Behavior, Statistics, Management Information Systems
Earned:
B.A. in Business Administration: Technology Management from Saint Leo University
M.S. in Leadership: Business Ethics from Duquesne University [/SIZE]
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