The Mechanics of Accounting

The financial statements are the cap stone of a careful bookkeeping process. The key to properly ...

The debit and credit system can be summarized in two basic rules. Increases in assets are written...

Journal entries summarize the accounts involved in a transaction, whether those accounts increase...

Once all journal entries are made and organized, a year-end balance for each account can be compu...

1. With debits and credits, which category will increase with a credit? expenses inventory ...