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Drawings

Forums › ACCA Forums › ACCA FA Financial Accounting Forums › Drawings

  • This topic has 4 replies, 4 voices, and was last updated 9 years ago by elle.
Viewing 5 posts - 1 through 5 (of 5 total)
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  • July 13, 2015 at 5:17 pm #260693
    elle
    Member
    • Topics: 18
    • Replies: 20
    • ☆

    Hi

    Please help me with a very basic question.
    Assets = Capital + Liability
    Where Asset is debit by nature
    Capital is Credit by nature
    Liability is credit by nature

    And
    Expense is debit by nature
    My question
    Income is credit / debit by nature?

    And where do drawings fit in? And is is debit/credit by nature?

    Thank you in advance

    July 13, 2015 at 5:35 pm #260696
    salwa1234
    Participant
    • Topics: 2
    • Replies: 4
    • ☆

    Drawings debit

    July 13, 2015 at 8:44 pm #260706
    dcducaale
    Member
    • Topics: 6
    • Replies: 15
    • ☆

    income is credit by nature
    Drawings are debit by nature

    July 14, 2015 at 8:32 am #260740
    John Moffat
    Keymaster
    • Topics: 57
    • Replies: 54628
    • ☆☆☆☆☆

    Elle: It will help you to watch the free lectures on here. If you watch them in order then they are a complete course covering everything you need for Paper F3.

    July 20, 2015 at 9:24 am #261141
    elle
    Member
    • Topics: 18
    • Replies: 20
    • ☆

    John, ever tried to watch a video three seconds at a time? 🙂 I’ve got the slowest internet in the world
    Thank you salwa1234 and dcducaale

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