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H - Accounting > Tips and Tricks > Flashcards

Tips and Tricks Flashcards

1
Q

Double Entry Accounting what goes on the
Left and what goes on the
Right

A 
Debits = Left
Credits = Right
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2
Q

DEAL stands for __ and is associated with Debits which is whenever cash is….

A

Cash received is Debited.

Dividends (Draws)
Expenses
Assets
Losses

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3
Q

GIRLS stands for ___ and is associated with Credits which is whenever cash is…

A

Cash paid out is credited

Gains
Income
Revenue
Liabilities
Stockholders Equity
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H - Accounting (4 decks)

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