I need help with a Business question. All explanations and answers will be used to help me learn.
One of the Basic Principles
of Accounting is that in a “Double Entry” system, Debits = Credits. In the
balance sheet Assets are increased by debits and Liabilities are increased by
credits. In the Income Statement (or P/L statement) Income is increased by a
credit and Expenses are increased by debits. What is going to be your trick to
remember this throughout the course? Creativity is encouraged..