You have new items in your feed. Click to view.
Question and answer
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Debits and credits are a system of notation used in bookkeeping to determine how to record any financial transaction. [ In financial accounting or bookkeeping, "Dr" (Debit) means left side of a ledger account and "Cr" (Credit) is the right side of a ledger account.[1] To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists
of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account.[3] ]
Expert answered|cham718|Points 547|
Question
Asked 8/26/2012 7:08:48 PM
Updated 8/26/2012 8:19:42 PM
1 Answer/Comment
Get an answer
New answers
Rating

There are no new answers.

Comments
Please provide the link when copying and pasting large blocks of text to show your source.
Added 8/26/2012 8:19:42 PM
Add an answer or comment
Log in or sign up first.
Questions asked by the same visitor
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Weegy: To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of [ accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account. ] (More)
Question
Expert Answered
Asked 8/26/2012 6:59:21 PM
0 Answers/Comments
How do classifying transactions using the rules of debit and credit relate to the practice of accounting and its uses in business?
Weegy: To determine whether one must debit or credit a specific account we use the modern accounting equation approach which consists of five accounting elements or rules.[2] An alternative to this approach is to make use of the traditional three rules of [ accounting for: Real accounts, Personal accounts, and Nominal accounts to determine whether to debit or credit an account. ] (More)
Question
Expert Answered
Asked 8/26/2012 7:19:11 PM
0 Answers/Comments
25,941,541 questions answered
Popular Conversations
Simplify 8(x + 3) - 2x 6x + 3 7x 6x + 24 User: Simplify 8(x + 3) - ...
Weegy: What would you like to know about the number 24?
8/25/2016 1:13:10 PM| 2 Answers
What is medicare?
8/25/2016 12:19:47 AM| 1 Answers
Find the product. 3(m n)
8/25/2016 12:35:37 AM| 1 Answers
The Babylonians in Sumer used what as a monetary commodity? A.Yen ...
Weegy: The Babylonians in Sumer used Shekel as a monetary commodity
8/25/2016 12:36:09 AM| 1 Answers
Weegy Stuff
S
Points 662 [Total 733] Ratings 4 Comments 622 Invitations 0 Offline
S
1
L
Points 550 [Total 1384] Ratings 3 Comments 520 Invitations 0 Offline
S
L
P
P
P
P
Points 437 [Total 3692] Ratings 0 Comments 437 Invitations 0 Offline
S
Points 106 [Total 106] Ratings 0 Comments 106 Invitations 0 Offline
S
L
P
P
P
Points 46 [Total 3862] Ratings 0 Comments 46 Invitations 0 Offline
S
Points 40 [Total 45] Ratings 0 Comments 0 Invitations 4 Offline
S
Points 27 [Total 254] Ratings 0 Comments 27 Invitations 0 Offline
S
Points 15 [Total 15] Ratings 0 Comments 5 Invitations 1 Offline
S
L
C
Points 11 [Total 4491] Ratings 1 Comments 1 Invitations 0 Offline
S
Points 10 [Total 10] Ratings 1 Comments 0 Invitations 0 Offline
* Excludes moderators and previous
winners (Include)
Home | Contact | Blog | About | Terms | Privacy | © Purple Inc.