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double entry

This topic has 1 reply, 2 voices, and was last updated 7 years ago by John Moffat.

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November 20, 2017 at 12:34 pm #416892
cindy7
Member
- Topics: 77
- Replies: 33
Payables brought forward are they increase in liability or a decrease in liability
Payables carried forward are they an increase in liability or decrease in liability
Receivables brought forward are they increase in asset or decrease in assets
Receivables carried forward are they increase/decrease in assets
November 20, 2017 at 6:53 pm #416979
John Moffat
Keymaster
- Topics: 57
- Replies: 54705
Brought forward and carried forward figures are just balances on accounts and are not an increase or decrease in anything!!!
Payables are a liability and receivables are an asset.
Have you actually watched all of my free lectures? 🙂
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