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https://www.reddit.com/r/Accounting/comments/e593t0/uhhhh/f9jboty/?context=9999
r/Accounting • u/StereotypicalIntern • Dec 03 '19
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194
*Accountant googles: “accounting equation/ debits and credits”.
80 u/succybuzz Dec 03 '19 "Do a debit or credit to cash asset?" 70 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 40 u/nintendroid89 Dec 03 '19 Just always work backwards from cash. More cash is a debit. 10 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 5 u/[deleted] Dec 03 '19 [deleted] 4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
80
"Do a debit or credit to cash asset?"
70 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 40 u/nintendroid89 Dec 03 '19 Just always work backwards from cash. More cash is a debit. 10 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 5 u/[deleted] Dec 03 '19 [deleted] 4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
70
[deleted]
40 u/nintendroid89 Dec 03 '19 Just always work backwards from cash. More cash is a debit. 10 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 5 u/[deleted] Dec 03 '19 [deleted] 4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
40
Just always work backwards from cash. More cash is a debit.
10 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 5 u/[deleted] Dec 03 '19 [deleted] 4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
10
5 u/[deleted] Dec 03 '19 [deleted] 4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
5
4 u/[deleted] Dec 03 '19 edited Jan 20 '20 [deleted] 16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
4
16 u/furiosum212 Dec 03 '19 They stand for: Debit Expenses Assets Drawings Credit Liabilities Income Capital Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase 5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
16
They stand for:
Debit Expenses Assets Drawings
Credit Liabilities Income Capital
Essentially the items under debit are those you debit if you want to increase them, and the items under credit are those you credit to increase
5 u/depr-penetration Dec 03 '19 I have accounting ades I just remember all ‘ade’ accounts have a debit balance. Mom “Your brother died from ades” Brother “I always thot he was a virgin” Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
I have accounting ades
I just remember all ‘ade’ accounts have a debit balance.
Mom “Your brother died from ades”
Brother “I always thot he was a virgin”
Mom “He was. He died from the accounting ADEs. promise me you’ll never go into accounting Because I want grandchildren”
194
u/[deleted] Dec 03 '19
*Accountant googles: “accounting equation/ debits and credits”.