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27 January, 11:35

In double-entry bookkeeping, where should you record assets?

A.

In the left debits column

B.

In the right credits column

C.

In the accounting equation

D.

Under the accounting equation

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Answers (1)
  1. 27 January, 13:44
    0
    The correct answer is choice A - in the left debits column.

    Assets of a company normally have a debit balance, which would be recorded on the left side of the accounting equation. If you purchase an asset you will debit the asset and credit cash.
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