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What do you mean by double entry?
Double entry means you just need to go with the perfect solution of book keeping with double entry. It is perfect to identify the records whenever necessary. For example when a company paid for $500 any advertisement in a large manner, then it will get low value in cash account and expenses for advertising will be increasing at the same time. It means the purpose and entry both take places at one time. This is effective and known as Double Entry System homework help.
What is the exact way of getting solution of Double Entry?
Double entry follow the rule of Asset = liabilities + owner’s equity. Here, if the liabilities get decreased, then asset cash also have the lower value. Now, amounts entered must be perfect as value of debit must be same as value of credits. In case you make any change in debit’s value and not in the credit, then the whole report would be wrong. So, be careful if you have any problem.
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What are the various examples to this?
The different examples are as follows –
- Purchase invoice pay book
- Bank payment daybook
- Supplier ledger cards
- customer ledge cards
- Bank account
- Unadjusted trial balance
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