|At the end of an accounting period, a balance is struck on each account in turn.
This means that all the debits on the account are totalled and so are all the credits.If the TOTAL DEBITS EXCEED THE TOTAL CREDITS, there is said to be a DEBIT BALANCE on the accounts;
If the TOTAL CREDITS EXCEED THE TOTAL DEBITS, then the ledger account has a CREDIT BALANCE.
August 23rd, 2011 Comments off
December 18, 2015
May 16, 2013
- In Personnel Management,do you think that labour turnover has any advantages to an organization? List a few potential advantages
May 17, 2013
May 21, 2013
- In an organization, briefly explain the benefits or advantages and disadvantages of decentralization
May 25, 2013
- What are the advantages and disadvantages of using Common Stock Financing from the viewpoint of the Corporation