Ledgers/ T- Accounts- Classifying Transactions- Urdu/Hindi - Cambridge Accounting 7707 / 9706
1. The Complete Guide to Cambridge Accounting 7707 and 9706 for O Levels A Levels!
2. The Secret to Getting Great Grades in Cambridge Accounting 7707 and 9706!
3. How to Ace Cambridge Accounting 7707 and 9706 in Just One Month!
4. The Most Comprehensive Guide to Cambridge Accounting 7707 and 9706!
5. Get Ahead in Cambridge Accounting 7707 and 9706 with These Easy Tips!
Follow our Channel:
https://www.facebook.com/GRITuptodate
@grituptodate4591
https://www.febspot.com/ref/371435
What is a 'T-Account'
A T-account is “an informal term for a set of financial records that use double-entry bookkeeping.” The term T-account describes the appearance of the bookkeeping entries. If a large letter T were drawn on the page, the account title would appear just above the T, debits would be listed under the top line of the T on the left side and the credits would be listed under the top line of the T on the right side, with the middle line separating the debits from the credits.
BREAKING DOWN 'T-Account'
In double-entry bookkeeping, a widespread accounting method, all financial transactions are considered to affect at least two of a company's accounts. Because of this, the credits and debits on each side of the T account must match. If a bookstore sold $20 worth of books, it might debit its cash account $20 and credit its books or inventory account $20. This double-entry system shows that the company now has $20 more in cash and a corresponding $20 less in books.
“Every business transaction brings about at least a double change in the financial position of a business.”
These two changes may take place in any one or two basic elements of accounting.
THE IS NO EXCEPTION TO THIS PRINCIPLE
Debit Side??
POSITIVE Side for Business
Why?
Either Assets are Increasing
Or
Responsibility is Decreasing
Credit Side??
NEGATIVE Side for a Business
Why?
Either Assets are Decreasing
Or
Responsibility is Increasing
-
0:15
universalaccounting
11 months agoAre You In Search Of Professional Bookkeeper Certification? Visit Universal Accounting!
10 -
8:49
yellowgenius
11 months agoLedger Of Your Labor to A Ledger Of Your Behavior.
32 -
6:16
LenaPetrova
3 months ago🔴 Bankers' Bank: Bank For International Settlements (BIS) To Tokenize Customer Assets Prior to CBDC
2.12K35 -
31:50
Thought of the Day
1 year ago337 Central Bank Digitl Currencies Are A Way To Track and Control Purchases (Clean)
5 -
1:14
JackBBosma
5 months agoRumble Account Earnings
584 -
16:54
cowcountry
2 years agoA2 Review of Accounting principles
22 -
49:48
Keeping Up With The Chaldeans
3 years agoKeeping Up With the Chaldeans: With Shatha Uebler - Better way Billing
12 -
11:02
Crypto Exposed
6 months agoHedera Will Allow You To BANK YOURSELF!!! DEFI BANKING ON HBAR!!!
32 -
1:03
HomeQwik
2 years agoWhat does a Property Manager do for you? - Accounting
60 -
4:58
JackBBosma
5 months agoAccount Executive: Subhasis Das
417