Accounting for Assets, Liabilities and Capital

Trial Balance

Definition: As the business grows, the number of entries increases and it is therefore rightly desired by the businesses to carry out periodic checks on…
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Balancing of an Account

Definition of Balance, Debit Balance and Credit Balance: The difference between the sum of the two sides of an account is called the balance. This…
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Accounts in Accounting

Definition: Instead of using a plus or minus sign to indicate increase or decrease of an item, an account is prepared to show summarized record…
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Rules for Debit and Credit

Accounting as language of business has its own vocabulary. There are certain rules for recording increase or decrease in assets, liabilities and capital in the…
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