Accounting Principles - Standalone book
Accounting Principles - Standalone book
12th Edition
ISBN: 9781118875056
Author: Jerry J. Weygandt, Paul D. Kimmel, Donald E. Kieso
Publisher: WILEY
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Chapter 2, Problem 9Q
To determine

Rules of Debit and Credit: All the items mentioned in the income statement and balance sheet are presented by journalizing the accounts, then classifying them into ledgers and afterward resulted in the summarized income statement and balance sheet. For journalizing the various accounts, rules of debit and credit has been followed according to the category of the account. There are five categories of accounts: Assets, Liabilities, Expenses and Losses, Revenues and Income and Equities.

To Determine: The general nature of the entries.

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Accounting Principles - Standalone book

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ACCOUNTING BASICS: Debits and Credits Explained; Author: Accounting Stuff;https://www.youtube.com/watch?v=VhwZ9t2b3Zk;License: Standard Youtube License