Author Topic: Easy way to learn Debit and Credit  (Read 288 times)

Offline hassan

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Easy way to learn Debit and Credit
« on: April 28, 2018, 07:33:04 PM »
Here are five tips to make learning debits and credits easier:

1. The accounts for expenses are nearly always debited. For example, when a company pays its monthly rent, it debits Rent Expense. If it runs an ad on the radio, it will debit Advertising Expense.

2. The accounts for revenues are almost always credited. When a bakery sells its products, it credits Sales. When a bank earns interest on its loans, it credits Loan Interest Revenues.

3. When a company issues a check, it credits the asset account Cash.

4. When a company receives money, it debits Cash.

5. Every transaction will require a debit to at least one account and a credit to at least one other account.

Here are two examples to illustrate our five tips. A bakery records its cash sales at a local market with a debit to Cash and a credit to Sales. A company records its $400 payment to repair its delivery van with a debit to Vehicle Repair Expense and a credit to Cash.
Md. Arif Hassan
Assistant Professor &
Associate Head
Department of Business Administration
Faculty of Business and Economics
Daffodil International University

Offline shahanasumi35

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Re: Easy way to learn Debit and Credit
« Reply #1 on: May 23, 2018, 12:45:15 PM »
Informative post .Thanks for sharing.

Shahana Kabir

Offline azizur.bba

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Re: Easy way to learn Debit and Credit
« Reply #2 on: July 15, 2018, 09:20:49 AM »
Good keep enlightening

Offline gour2010

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Re: Easy way to learn Debit and Credit
« Reply #3 on: September 16, 2018, 11:54:23 AM »
Very good post

Offline mominur

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Re: Easy way to learn Debit and Credit
« Reply #4 on: September 16, 2018, 01:22:57 PM »
Thanks for sharing.........
Md. Mominur Rahman

Assistant Professor
Department of Textile Engineering
Faculty of Engineering
Daffodil International University

Offline Nusrat Nargis

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Re: Easy way to learn Debit and Credit
« Reply #5 on: September 25, 2018, 11:12:22 AM »
good one.
Nusrat Nargis

Assistant Professor
Department of Business Administration
Daffodil International University

Offline Raisa

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Re: Easy way to learn Debit and Credit
« Reply #6 on: September 25, 2018, 12:51:35 PM »
 :)
:)

Offline Farhananoor

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Re: Easy way to learn Debit and Credit
« Reply #7 on: March 07, 2019, 12:41:47 PM »
Informative post.