Accounting Cheat Sheet

Accounting Cheat Sheet - Debit & Credit Effects...

Info iconThis preview shows pages 1–2. Sign up to view the full content.

View Full Document Right Arrow Icon
Assets = Liabilities + Equity Cash + Accounts  Receivable +  Supplies +  Equipment Accounts Payable Owner’s Capital – Owner’s  Withdrawals + Revenues -  Expenses
Background image of page 1

Info iconThis preview has intentionally blurred sections. Sign up to view the full version.

View Full DocumentRight Arrow Icon
Account Title (Left Side) (Right Side) Debit Credit Ending balance is on the side with the larger dollar amount Double-Entry Accounting
Background image of page 2
This is the end of the preview. Sign up to access the rest of the document.

Unformatted text preview: Debit & Credit Effects for Component Accounts Classified Balance Sheet Assets Liabilities + Equity Revenues Expense = Net Income Equity = Owners Capital + Net Income Owners Withdrawals Expenses DO NOT show on the balance sheet!...
View Full Document

Page1 / 2

Accounting Cheat Sheet - Debit & Credit Effects...

This preview shows document pages 1 - 2. Sign up to view the full document.

View Full Document Right Arrow Icon
Ask a homework question - tutors are online