answersLogoWhite

0


Best Answer

double-entry accounting

User Avatar

Wiki User

12y ago
This answer is:
User Avatar

Add your answer:

Earn +20 pts
Q: The recording of debit and credit parts of a transaction is?
Write your answer...
Submit
Still have questions?
magnify glass
imp
Continue Learning about Accounting

List the four parts of a journal entry?

The four parts of a journal entry are debit, credit, date and source document. Date refers to the date the transaction occurred. Debit is a subtraction and credit is an addition. The source document is the actual record of the transaction.


What is the four parts of a journal entry?

(1) date (2) debit (3) credit (4) source document


Is a pin required for credit transactions?

It is very rare in the U.S. to have a credicard that requires a pin, but it is very common in parts of Europe.


What are the Earned Income Tax Credit requirements?

To qualify to claim the EIC, you must first meet all of the rules explained in Part A, Rules for Everyone . Then you must meet the rules in Part B, Rules If You Have a Qualifying Child , or Part C, Rules If You Do Not Have a Qualifying Child . There is one final rule you must meet in Part D, Figuring and Claiming the EIC . You qualify for the credit if you meet all the rules in each part that applies to you.If you have a qualifying child, the rules in Parts A, B,and D apply to you.If you do not have a qualifying child, the rules in Parts A, C, and D apply to you.Table 36-1, Earned Income Credit in a Nutshell. Use Table 36-1 as a guide to Parts A, B, C, and D. The table is a summary of all the rules in each part.Go to the IRS.gov web site and use the search box for Publication 17 go to Chapter 36 discusses the earned income credit


What is parts costing?

Parts costing is when a company put aside some a money which will be spent on parts for a job.

Related questions

List the four parts of a journal entry?

The four parts of a journal entry are debit, credit, date and source document. Date refers to the date the transaction occurred. Debit is a subtraction and credit is an addition. The source document is the actual record of the transaction.


Is Spare parts Inventory debit or credit?

If the inventory is fiananced it is debit... If you own it is credit...


What is the four parts of a journal entry?

(1) date (2) debit (3) credit (4) source document


What are the parts of a journal entry?

There are two parts of journal entries in double entry accounting system. 1 - Debit part 2 - Credit part


Can you use a debit card to book a hotel room?

Of course, but it's always better to pay with cash, as you never know, in some parts of the world they can clone your card and take lots of money from your account! But yes the hotel can and should accept credit cards.


What is a fake master card number?

These numbers are for testing purpose only and you wouldn’t be able to make an actual transaction using these number as it will return insufficient fund.All credit card numbers are divided into 3 parts; issuer Identifier, Account Number or Check Digit.


How do markets reduce transaction costs?

Transaction costs can be reduced in a number of ways by offsetting the cost to other parts of the business. Reductions like cheaper product sourcing and staff cuts are necessary.


What effect would occur on the inventory if the wrong part numbers were used when recording parts on a repair statement?

The inventory count for at least 2 parts would be incorrect


What effects would occur on the inventory if the wrong part numbers were used when recording parts on a repair statement?

The inventory count for at least 2 parts would be incorrect


What person was give credit on a Beatle record?

Well, that depends upon what you mean. After they achieved world wide fame, the only person who was ever credited as an artist along with the Beatles on a recording was Billy Preston. He played the Piano on "Get Back." When the 45 rpm record was released it was credited to "The Beatles with Billy Preston." That was the only record where someone else was listed with an artist's credit as performer on an equal footing with the Beatles. Other studio musicians as well as producer George Martin, who occasionally contributed musical parts to the recording, were credited for their contributions, but never with equal billing as co-recording artist. Billy Preston was the only one to receive that recognition. However, early in their career, before they became famous themselves, they were the backing band for Tony Sheridan, and English recording artist based in Germany. However, in that case, it was Tony Sheridan with the Beatles listed as his backing band.


What American is given credit for his early use of interchangeable parts?

Eli Whitney


Where can you order car parts by phone with your credit card?

You should be able to do so with just about any store that accepts credit cards, which is most of them.