Double-Entry Bookkeeping

Resources the business owns and uses are...

• Dividends

• Assets

• Liabilities

• Equity

What are dividends?

• Cash paid for goods and services

• Cash owners put into the business

• Money owed to others

• Cash distributed to owners

What are expenses?

• Cash paid for goods and services

• Money got from sales to customers

• Cash owners put into the business

• Money owed to others

Liabilities are

• Money owed to others

• Money got from sales to customers

• Resources the business owns and uses

• Cash paid for goods and services

Equity means...

• Cash paid for goods and services

• Cash distributed to owners

• Cash owners put into the business

• Money got from sales to customers

Revenue means

• Cash owners put into the business

• Resources the business owns and uses

• Money owed to others

• Money got from sales to customers

Examples of debits are...

• Equity

• Assets

• Dividends

• Expenses

Examples of credit are...

• Liabilities

• Revenue

• Equity

• Assets