Week 3 - PEARLS Flashcards by Verity Russell | Brainscape

Q

What does P stand for?

A

Purchases

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Q

What does E stand for?

A

Expenses

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Q

What does A stand for?

A

Assets

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Q

What does R stand for?

A

Revenue / sales

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Q

What does L stand for?

A

Liabilities

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Q

What does S stand for?

A

Shareholders’ equity

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Q

What do we do if PEA increase?

A

Debit

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Q

What do we do if PEA decrease?

A

Credit

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