Curriculum Learning Space

  Accounting  

 

 
Accounting
 
ForumForumGeneralGeneralGeneralGeneralaccountingaccounting
Previous Previous
 
Next Next
New Post
 8/18/2008 1:54 PM
 

I want to know about the Accounting Equation.

New Post
 9/25/2008 6:08 PM
 

Hi there

Accounting equation simply means that your assets must be equal to owners equity plus liabilities.

A                      =                   OE                           +                          L

dr equipment

+R500

cr bank

-R500

Assets have a debit balance, increase on the dr side and decrease on the cr side

Owners equity and Liabilities both have a cr balance, increase on the cr side and decreases on the dr side.

NOTE: your left side of your book represents debit side and left side represent credit side.

Lets do an example.Buy equipment of R500 and paid by cheque.(refer to above for answer)

Hope this will help,for more question feel free to contact me (paulina)

 

New Post
 10/16/2008 1:21 PM
 
Contact me and I will email you a whole chapter from our grade 8 accounting book. After reading that you will understand the accounting equation.
New Post
 10/17/2008 3:34 PM
 

hi there. send me some of your questions for grade 8, i will do them. To contact me my e mail address is paulinamotaung@yahoo.com

 

Previous Previous
 
Next Next
ForumForumGeneralGeneralGeneralGeneralaccountingaccounting