Question

You have been learning about the accounting equation, debits/credits, and account normal balances. The accounting equation is the foundation of accounting. Understanding debits/credits and the account normal balances are just as important. Sometimes, these concepts are difficult to understand and/or remember. Please research the Internet to find fun and easy ways to remember this information. It could be a song, a mnemonic, phrase, video, etc. It can even be something that you have created. Make sure that the information is college appropriate. Please post your findings and include a link that references the material. Then in a minimum of a paragraph, summarize why you choose this source, how it has helped you remember the material, and why other students would find it helpful.

Answer 1

using the word DEALER

since we record our debit accounts on the left hand side of the Ledger and we record credit accounts on the right hand side of the Ledger hence

DEA represents ( Dividends, expenses , Assets ) which are recorded in Debit accounts while

LER represents ( Liabilities ,Equity and revenues ) which are recorded in credit accounts

Step-by-step explanation:

The fundamentals of accounting is based on the ability to distinguish between a Debit and a credit . ability to do this efficiently will help in the process of balancing the ledger at the end of each accounting period. most times the concepts of Debits and credits are not so easy to memorize hence i will such the Fun way of Memorizing them which is;

using the word DEALER

since we record our debit accounts on the left hand side of the Ledger and we record credit accounts on the right hand side of the Ledger hence

DEA represents ( Dividends, expenses , Assets ) which are recorded in Debit accounts while

LER represents ( Liabilities ,Equity and revenues ) which are recorded in credit accounts