PROGRESS / MAENDELEO:
0% Completed
Commerce - Book-keeping: Double Entry (Form II & III)
Muhtasari / Summary: Double-entry, ledger accounts, trial balance, and balance sheet.
✓
Book-keeping records financial transactions systematically. Double-entry principle: every transaction has two equal and opposite entries (Debit and Credit). Accounts: Assets (what you own), Liabilities (what you owe), Capital = Assets − Liabilities. Key books: Journal (first record), Ledger (classified accounts – each account has Debit and Credit sides), Cash Book (records cash receipts and payments). Trial Balance: if Debit totals = Credit totals, books are balanced. Balance Sheet shows financial position at a date.