formulas
What is the accounting equation?
Assets = liabilities + equity.
What does it mean that a debit increases an account?
That the value of the account increases.
What is the exercise result formula ?
asset depreciation + financial expense + cost of sales - sales
What does it mean that a credit increases an account?
That the value of the account decreases.
¿ What is the income statement formula?
sales - cost of sales = gross profit - administrative expense - financial expense = net profit
What type of account is cash?
Current active.
what is the balance sheet formula ?
all assets all liabilities and stockholders' equity
What type of account is sales?
Current active.
What is the formula of total C.C ?
TOTAL CC + P =
How is the payment of a bank loan recorded?
A debit is recorded to the bank loan account and a credit is recorded to the cash account.