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  2. Debits and credits - Wikipedia

    en.wikipedia.org/wiki/Debits_and_credits

    A decrease to the bank's liability account is a debit. From the bank's point of view, when a credit card is used to pay a merchant, the payment causes an increase in the amount of money the bank is owed by the cardholder. From the bank's point of view, your credit card account is the bank's asset. An increase to the bank's asset account is a debit.

  3. Accounting equation - Wikipedia

    en.wikipedia.org/wiki/Accounting_equation

    Buying assets by borrowing money (taking a loan from a bank or simply buying on credit) 3 − 900 − 900 Selling assets for cash to pay off liabilities: both assets and liabilities are reduced 4 + 1,000 + 400 + 600 Buying assets by paying cash by shareholder's money (600) and by borrowing money (400) 5 + 700 + 700 Earning revenues 6 − 200 ...

  4. Double-entry bookkeeping - Wikipedia

    en.wikipedia.org/wiki/Double-entry_bookkeeping

    Whether one uses a debit or credit to increase or decrease an account depends on the normal balance of the account. Assets, Expenses, and Drawings accounts (on the left side of the equation) have a normal balance of debit. Liability, Revenue, and Capital accounts (on the right side of the equation) have a normal balance of credit.

  5. Capital account - Wikipedia

    en.wikipedia.org/wiki/Capital_account

    Whereas the current account reflects a nation's net income, the capital account reflects net change in ownership of national assets. A surplus in the capital account means money is flowing into the country, but unlike a surplus in the current account, the inbound flows effectively represent borrowings or sales of assets rather than payment for ...

  6. 15 Most Important Assets That Will Increase Your Net Worth - AOL

    www.aol.com/finance/15-most-important-assets...

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  7. Balance sheet - Wikipedia

    en.wikipedia.org/wiki/Balance_sheet

    The difference between the assets and the liabilities is known as equity or the net assets or the net worth or capital of the company and according to the accounting equation, net worth must equal assets minus liabilities. [4] Another way to look at the balance sheet equation is that total assets equals liabilities plus owner's equity.

  8. 15 Most Important Assets That Will Increase Your Net Worth - AOL

    www.aol.com/finance/15-most-important-assets...

    5. Rental Real Estate. When you use the bank's money to acquire rental properties, you're effectively building your net worth. Once you start renting out the properties, use the income to pay off ...

  9. 5 reasons to have multiple savings accounts - AOL

    www.aol.com/finance/5-reasons-multiple-savings...

    Reasons for having multiple accounts. There are several reasons why it is beneficial to have multiple savings accounts. 1. Earn more interest. With the Federal Reserve actively making cuts to the ...