the essense of studing debit and credit is that you can see what is going on around your business. what are the things that your business own, what your business has, what your business mus do, what your business should pay, buy and acquire.
debit does not only mean cash and asset and credit does not only mean the losses and liabilities but it is a complex and art of recording, summarizing and interpreting the data.
debit is positive and credit is negative in a normal concept.
debit is the evaluation of value according to your net value of business.
credit acts as the liabilities or obligation of total net value of your business.
debit and credit is the standard of accounting
as I said, debit is the positive or your companies or business assets or liquidated amount of moneys, notes or patents, lands, building; VALUE
and credit is the negative part of your business, because it may be about your obligation to pay such as Accounts payable, Notes payable, Amortization, Loans payable. etc.
again, it does not mean debit and credit is positive and negative it just means of evaluating the value of each accounts.
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ririii03
Maraming salamat, Kuya! May God bless you po!
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Answer:
hello I'm accounting student,
the essense of studing debit and credit is that you can see what is going on around your business. what are the things that your business own, what your business has, what your business mus do, what your business should pay, buy and acquire.
debit does not only mean cash and asset and credit does not only mean the losses and liabilities but it is a complex and art of recording, summarizing and interpreting the data.
debit is positive and credit is negative in a normal concept.
debit is the evaluation of value according to your net value of business.
credit acts as the liabilities or obligation of total net value of your business.
debit and credit is the standard of accounting
as I said, debit is the positive or your companies or business assets or liquidated amount of moneys, notes or patents, lands, building; VALUE
and credit is the negative part of your business, because it may be about your obligation to pay such as Accounts payable, Notes payable, Amortization, Loans payable. etc.
again, it does not mean debit and credit is positive and negative it just means of evaluating the value of each accounts.