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Yes exactly. With assets liabilities and equity having a left and right entry, they were following the convention when posting a journal entry to the ledger, le
by rawgabbit 2y ago
Yes exactly. With assets liabilities and equity having a left and right entry, they were following the convention when posting a journal entry to the ledger, left entries must equal right entries. (Debits must equal credits). Because A=L+E, we get assets to the left and liabilities to the right.
- noisy_boy 2y agoAppreciate your confirmation. If you have any blog about double entry accounting (or accounting in general), I'll be interested to read it. I have nothing to do with accounting in my professional life but I've always been curious about it.
- rawgabbit 2y agoI like this free site written by a CPA. https://www.accountingverse.com/ https://www.accountingverse.com/