211: A = L + E Flashcards
Debits & Credits! (32 cards)
1
Q
Assets
A
Dr
2
Q
Liabilities
A
Cr
3
Q
Equity
A
Cr
4
Q
Share Capital
A
Cr
5
Q
Retained Earnings / Retained Profits
A
Cr
6
Q
ARS: Asset Revaluation Surplus
A
Cr
7
Q
Other Individual Equity Accounts
A
Cr
8
Q
Income Accounts (temporary equity accounts)
A
Cr
9
Q
Expense Accounts (temporary equity accounts can include COGS, Other Expenses etc)
A
Dr
10
Q
Dividends Declared
A
Dr
11
Q
Operating Profit / Profit Before Tax
A
DOWN! Cr
12
Q
Income Tax Expense
A
Dr
13
Q
Profit After Tax
A
DOWN! Cr
14
Q
Retained Earnings b/f
A
Cr
15
Q
Dividends Declared
A
Dr
16
Q
Retained Earnings c/f
A
DOWN! Cr
17
Q
ARS: Asset Revaluation Surplus
A
Cr
18
Q
SC: Share Capital
A
Cr
19
Q
Total Equity
A
DOWN! Cr
20
Q
CL: Current Liability
A
Cr
21
Q
NCL: Non-Current Liability
A
Cr
22
Q
Total Liabilities
A
DOWN! Cr
23
Q
Total Equity & Liabilities
A
DOWN! Cr
24
Q
Cash
A
Dr
25
Accounts Receivable
Dr
26
Inventory
Dr
27
PPE
Dr
28
Intangible Asset
Dr
29
Investment in Sub
Dr
30
Goodwill
Dr
31
Total Assets
DOWN! Dr
32
Dividends Payable
Cr
