answersLogoWhite

0

How double entry system Works?

Updated: 9/15/2023
User Avatar

Wiki User

14y ago

Want this question answered?

Be notified when an answer is posted

Add your answer:

Earn +20 pts
Q: How double entry system Works?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Related questions

Advantages of double-entry book-keeping system?

advantages of double-entry book-keeping system?


Double account system?

Type your answer here double accout system is the system where all the entry has to be kept as a double. ... 


WhAT IS THE Difference between double account system and double entry system?

The difference between double account system and double entry systems are noted below: 1. Double account system is necessary only for Govt. service rendering org. but double entry system is applicable for all types of org. 2. In double account system balance sheet is divided into two part ie; Capital Account, and general balance sheet but in double entry system only one balance sheet is prepared.


Which book of prime entry is part of the double entry system?

journal


What is single entry and double entry?

Single entry system is that system in which only one side of entry either debit or credit is recorded while the other side of transaction is ommitted while in double entry system, both side of transactions debit and credit are recorded to complete the business transaction.


Who is the father of double entry system?

Luca pacloli


Who was the founder of double entry system?

luco pacioli


What is double-entry system in bookkeeping?

Double entry book keeping system is that system under which all transactions have atleast two accounts which are charged for, one for debit part and one for credit.


Is the fixed asset register a part of the double entry system?

A double entry bookkeeping system shows the multiple effects of a single transaction. Since the fixed asset register entails all details about purchase, sale, and depreciation effects of a fixed asset. It is therefore a part of double entry system.


The accounting environment does not change as a result of?

the double entry system


What is a purpose of a double-entry bookkeeping system?

nabeeliah is a dog


What account system India follow?

India follows double entry accounting system