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2. Debits and credits - Wikipedia

   en.wikipedia.org/wiki/Debits_and_credits

   Likewise, an increase in liabilities and shareholder's equity are recorded on the right side (credit) of those accounts, thus they also maintain the balance of the accounting equation. In other words, if "assets are increased with left side entries, the accounting equation is balanced only if increases in liabilities and shareholder’s equity ...

3. Accounting equation - Wikipedia

   en.wikipedia.org/wiki/Accounting_equation

   Since the balance sheet is founded on the principles of the accounting equation, this equation can also be said to be responsible for estimating the net worth of an entire company. The fundamental components of the accounting equation include the calculation of both company holdings and company debts; thus, it allows owners to gauge the total ...

4. How Accounts Payable Are Recorded on a Balance Sheet - AOL

   www.aol.com/finance/accounts-payable-recorded...

   For example, if you purchased a $500 tool with a credit from a vendor, you can include that tool as an asset in your balance sheet. In the liabilities section of your balance sheet, you can add ...

5. 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.

6. Balance (accounting) - Wikipedia

   en.wikipedia.org/wiki/Balance_(accounting)

   The opposite is true when the total credit exceeds total debits, the account indicates a credit balance. If the debit/credit totals are equal, the balances are considered zeroed out. In an accounting period, "balance" reflects the net value of assets and liabilities to better understand balance in the accounting equation. Balancing the books ...

7. Balance sheet - Wikipedia

   en.wikipedia.org/wiki/Balance_sheet

   Of the four basic financial statements, the balance sheet is the only statement which applies to a single point in time of a business's calendar year. [2] A standard company balance sheet has two sides: assets on the left, and financing on the right–which itself has two parts; liabilities and ownership equity.

8. Liability (financial accounting) - Wikipedia

   en.wikipedia.org/wiki/Liability_(financial...

   The accounting equation relates assets, liabilities, and owner's equity: Assets = Liabilities + Owner's Equity. The accounting equation is the mathematical structure of the balance sheet. Probably the most accepted accounting definition of liability is the one used by the International Accounting Standards Board (IASB). The following is a ...

9. 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 ...