Accounting Info

The Best Debits And Credits In Accounting Ideas . An asset account reflects the value of resources owned by a company and is expected to provide future economic benefit. Even simple terms like debits and credits don’t have the same meaning in bookkeeping as in everyday life and initially can appear. Debit and Credit in Accounting Double Entry Bookkeeping from www.double-entry-bookkeeping.com Further, the amounts entered as debits must be equal to the amounts entered as credits. Credits represent the right side of an account. It is always placed on the right side.