Difference between revisions of "Debit"

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[[Debit]] (alternatively known as [[debit entry]] and commonly abbreviated [[Dr]] because of Latin ''debere'') is any entry into [[financial book]]s that either increases [[asset-origin account]]s or decreases [[equity-origin account]]s. Any [[journal entry]] contains at least one [[debit entry]].
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[[Debit]] (alternatively known as [[debit entry]] and commonly abbreviated [[Dr]] because of Latin ''debere'') is any entry into [[financial book]]s that either increases [[asset-origin account]]s or decreases [[equity-origin account]]s. Any [[journal entry]] contains at least one [[debit]]. In a [[T-account]], a debit balance is found on the left-hand side. A number entered on the left side of any [[T-account]] is said to be debited to this [[financial account|account]].
  
  
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*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws.
 
*[[Bookkeeping]]. Recording, filing, and retrieving of [[financial data]], as well as producing those [[financial report]]s that are required by laws.
  
==Related coursework==
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==Related lectures==
 
*[[Bookkeeping Quarter]].  
 
*[[Bookkeeping Quarter]].  
  
 
[[Category: Septem Artes Administrativi]][[Category: Articles]]
 
[[Category: Septem Artes Administrativi]][[Category: Articles]]

Latest revision as of 19:34, 4 January 2019

Debit (alternatively known as debit entry and commonly abbreviated Dr because of Latin debere) is any entry into financial books that either increases asset-origin accounts or decreases equity-origin accounts. Any journal entry contains at least one debit. In a T-account, a debit balance is found on the left-hand side. A number entered on the left side of any T-account is said to be debited to this account.


Definitions

According to College Accounting: A Practical Approach by Slater (13th edition)‎,

Debit. The left-hand side of any account. A number entered on the left side of any account is said to be debited to an account.

Related concepts

Related lectures