debit or credit Flashcards by Lina Zaim

{ "@context": "https://schema.org", "@type": "Organization", "name": "Brainscape", "url": "https://www.brainscape.com/", "logo": "https://www.brainscape.com/pks/images/cms/public-views/shared/Brainscape-logo-c4e172b280b4616f7fda.svg", "sameAs": [ "https://www.facebook.com/Brainscape", "https://x.com/brainscape", "https://www.linkedin.com/company/brainscape", "https://www.instagram.com/brainscape/", "https://www.tiktok.com/@brainscapeu", "https://www.pinterest.com/brainscape/", "https://www.youtube.com/@BrainscapeNY" ], "contactPoint": { "@type": "ContactPoint", "telephone": "(929) 334-4005", "contactType": "customer service", "availableLanguage": ["English"] }, "founder": { "@type": "Person", "name": "Andrew Cohen" }, "description": "Brainscape’s spaced repetition system is proven to DOUBLE learning results! Find, make, and study flashcards online or in our mobile app. Serious learners only.", "address": { "@type": "PostalAddress", "streetAddress": "159 W 25th St, Ste 517", "addressLocality": "New York", "addressRegion": "NY", "postalCode": "10001", "addressCountry": "USA" } }

Q

General expense

A

DEBIT

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Q

Discount RECEIVED

A

CREDIT

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Q

Salaries

A

DEBIT

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Q

Discount ALLOWED

A

DEBIT

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Q

Traveling Expense

A

DEBIT

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Q

Electricity/rent Bill

A

DEBIT

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Q

CAPITAL

A

CREDIT

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Q

DRAWINGS

A

DEBIT

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Q

PREMISES

A

DEBIT (cuz its an asset)

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Q

FURNITURES

A

DEBIT

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Q

STOCK

A

DEBIT

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Q

CASH / BANK

A

DEBIT

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Q

PURCHASES

A

DEBIT (cuz expense)

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Q

SALES REVENUE

A

CREDIT (counts with equity)

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Q

CARRIAGE INWARDS

A

DEBIT (its when u PURCHASE inventory)

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Q

CARRIAGE OUTWARDS

Study These Flashcards

A

Debit (it its weird but its also a purchase apparently)

Q

Sales RETURN

Study These Flashcards

A

DEBIT

Q

Return INWARDS

Study These Flashcards

A

DEBIT (its the same as sales return)

Q

return OUTWARDS

Study These Flashcards

A

CREDIT (when Ur goods are returned to suplier)

Q

purchase RETURN

Study These Flashcards

A

CREDIT (same as return outwards)

Q

Trade RECEIVABLE

Study These Flashcards

A

DEBIT

Q

trade Payable

Study These Flashcards

A

Credit

Q

Bank Charges

Study These Flashcards

A

Debit (cuz like u paying the bank so its an expense)