Debit and Credits

Dear All Foundation and Intermediate Students
When I did my NVQ Foundation Level and Intermediate Level, I had come across the following Termanology to remember what to debit and what to credit
The Term was DEAD CLIC
D = DEBIT
E - Expenses
A - Assets
D - Drawing
C = CREDIT
L - Liability
I - Income
C - Capital
I hope this helps
When I did my NVQ Foundation Level and Intermediate Level, I had come across the following Termanology to remember what to debit and what to credit
The Term was DEAD CLIC
D = DEBIT
E - Expenses
A - Assets
D - Drawing
C = CREDIT
L - Liability
I - Income
C - Capital
I hope this helps
0
Comments
PEARLS
P = PURCHASES R = REVENUE
A = ASSETS L = LIABILITIES
E = EXPENSES S = SALES
Basic Accounting I was very similar to the practice test, learn your basic double entry, petty cash and trial balance and your half way there.
Not sure about BAII got that on the 20th hoping that not too different to practice as I did that today and passed.
Good luck with them both.
Jan
Would definitely agree with that. Pearls for me everytime!
I have attached a T-account poster (pdf file) Debit Credit explanation....
Enjoy
Ronnie
http://www.youtube.com/watch?v=99LTqkxzBpA&feature=youtube_gdata_player
"Just remember, debits are on the side nearest the window and you'll be ok - if there is no window, you are in real trouble".
That sounds just as helpful as a broken neck! Who on earth told you that?! Not a tutor I hope!