The capital of a company increases when its revenue increases.

When an expense is recorded at the same time it is paid for with cash, the cash (asset) account declines, while the amount of the expense reduces the retained earnings account.

A real account is an account that retains and rolls forward its ending balance at the end of the year. These amounts then become the beginning balances in the next period.

Cash Account is credited when a building is purchases by the organization for cash.

Revenue minus Expenses is the net income of the company.

Day Book is the other name of Journal.

The Assets & Equity of a company increases when fresh capital is introduced.

Identifying an economic transaction is the first phase of an accounting cycle.

An Asset possessed by the business should be shown in Asset part of balance sheet.

A compound journal entry is an accounting entry in which there is more than one debit, more than one credit, or more than one of both debits and credits.