02-17-2010, 09:47 PM
<blockquote id="quote"><font size="1" face="Verdana, Arial, Helvetica, san" id="quote">quote<hr height="1" noshade id="quote"><i>Originally posted by yasir_live</i>
<br />Debits represent increases in value of assets and expenses and decreases in income, liabilities and equity
Credits represent increases in liabilities, equity and income and decreases in assets and expenses
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
WRONG..
There is no definitin of debit and credit. Debit is left side of T account and credit is the right side of T account.
<br />Debits represent increases in value of assets and expenses and decreases in income, liabilities and equity
Credits represent increases in liabilities, equity and income and decreases in assets and expenses
<hr height="1" noshade id="quote"></font id="quote"></blockquote id="quote">
WRONG..
There is no definitin of debit and credit. Debit is left side of T account and credit is the right side of T account.
