double entry book keeping Flashcards
1
Q
What is double entry accounting
A
its a book keeping system that says every accounting entry must have a debit and a credit which can be supported via the accounting equation
2
Q
what is the accounting equation?
A
3
Q
What is the general ledger?
A
4
Q
what must a general ledger have?
A
5
Q
what are debits?
A
6
Q
what are credits?
A
7
Q
what side are debits and credits on?
A
