ledger Archives - Study Zone Institute

Ledger accounts: Simple breakdown of Types, Format, Double Entry, Balance

Study Zone Institute December 13, 2023 Business and Accounting Basics Comments Off on Ledger accounts: Simple breakdown of Types, Format, Double Entry, Balance

Ledgers is the third step in the Accounting Cycle. After you sort out Source Documents and record the amounts into the 7 Journals, the figures then go to the ledger accounts. Each account records details of every activity that happens in a business. From the day the owner invests money …

Debit and Credit: Simple view of in and out

Study Zone Institute May 9, 2023 Business and Accounting Basics Comments Off on Debit and Credit: Simple view of in and out

Accounts are shaped like a T that has a left side called Debit or Dr and a right side called Credit or Cr. Debit means to have, increase, go up or come in and Credit means don’t have, decrease, go down or go out. A simple way to look at …

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Tag Archives: ledger

Ledger accounts: Simple breakdown of Types, Format, Double Entry, Balance

Debit and Credit: Simple view of in and out