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    Beginners Accounting:: Assets Income Statement

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    AJ
    This document provides a basic introduction to accounting concepts for beginners. It outlines the debit and credit sides of key accounts including assets, liabilities, equity, expenses, and revenues. Assets and expenses are normally debited, while liabilities, equity, and revenues are normally credited. Examples of key balance sheet accounts like cash, accounts receivable, and inventory are provided along with common income statement accounts.

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    Beginners Accounting:: Assets Income Statement

    Uploaded by

    AJ
    22 views1 page
    This document provides a basic introduction to accounting concepts for beginners. It outlines the debit and credit sides of key accounts including assets, liabilities, equity, expenses, and revenues. Assets and expenses are normally debited, while liabilities, equity, and revenues are normally credited. Examples of key balance sheet accounts like cash, accounts receivable, and inventory are provided along with common income statement accounts.

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    BEGINNERS ACCOUNTING.docx

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    This document provides a basic introduction to accounting concepts for beginners. It outlines the debit and credit sides of key accounts including assets, liabilities, equity, expenses, and revenues. Assets and expenses are normally debited, while liabilities, equity, and revenues are normally credited. Examples of key balance sheet accounts like cash, accounts receivable, and inventory are provided along with common income statement accounts.

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    22 views1 page

    Beginners Accounting:: Assets Income Statement

    Uploaded by

    AJ
    This document provides a basic introduction to accounting concepts for beginners. It outlines the debit and credit sides of key accounts including assets, liabilities, equity, expenses, and revenues. Assets and expenses are normally debited, while liabilities, equity, and revenues are normally credited. Examples of key balance sheet accounts like cash, accounts receivable, and inventory are provided along with common income statement accounts.

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    BEGINNERS ACCOUNTING:

    DEBIT CREDIT OR DC.ADE.LER

    ASSET LIABILITIES D C

    DRAWINGS EQUITY A L

    EXPENSES REVENUE D E

    E R

    ASSETS
    Cash
    AR INCOME STATEMENT
    Inventory Sales Revenue
    Prepaid Expenses Cost of Goods Sold Expense
    Fixed Assets Depreciation Expense
    (Accumulated depreciation) Amortization Expense
    Intangible Assets Operating Expenses
    Interest Income
    LIABILITIES & OE Income Tax Expense
    AP Net Income
    Accrued Expense Payable
    Notes Payable
    OE-Invested Capital
    OE- Retained Earnings

    by Patrick and Family

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