BACHELOR OF BUSINESS ADMINISTRATION

Detailed explanation-1: -In double-entry bookkeeping, all debits are made on the left side of the ledger and must be offset with corresponding credits on the right side of the ledger. On a balance sheet, positive values for assets and expenses are debited, and negative balances are credited.

Detailed explanation-2: -Debits are recorded on the left side of an accounting journal entry. A credit increases the balance of a liability, equity, gain or revenue account and decreases the balance of an asset, loss or expense account. Credits are recorded on the right side of a journal entry.

Detailed explanation-3: -The debit column is always on the left of an accounting entry, while credit columns are always on the right. Debits increase expense accounts or asset accounts and decrease equity or liability. Conversely, credits decrease expenses or assets and increase equity or liability.

Detailed explanation-4: -Additionally, the double-entry system tracks assets, expenses, liabilities, equity and revenue. Remember that debits are always recorded on the left with credits on the right. A transaction that increases your revenue, for example, would be documented as a credit to that particular revenue/income account.