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08:31 Sep 25, 2011
Polish to English translations [PRO] Bus/Financial - Finance (general)
Polish term or phrase:obrót winien
z historii rachunku; dwie pozycje obrót winien, obrót ma
The difference between the two sides of the Trading Account indicates either Gross Profit or Gross Loss. If the credit side total is in excess of the debit side total, the difference represents Gross Profit. On the other hand, if the total of the debit side is in excess of the credit side total, the difference represents Gross Loss.
Difference between the total debit & total credit.
1) Make debit & credit total
2) If debit side total exceeds credit side total then it called “Debit balance”.
3) If credit side total exceeds debit side total then it called “Credit balance”.
Accounting transactions are recorded in the form of a journal entry
Journal entry is an entry to the accounting journal
Accounting journal is a collection of all journal entries
All accounting journal entries have two sides, debit and credit
For each accounting journal entry, the total of debit sides is equal to the total of credit sides
debit side total = credit side total
If debit side total is not same as the credit side total, the journal entry does not balance and the journal entry is not accurate.
Here are the steps you will undertake to prepare the trial balance:
For each ledger account — Cash, Accounts Payable, etc. — total your credits and debits.
If the credit total is larger, subtract the debit total from the credit total to get your ledger account total which goes in the credit column of the trial balance
If the debit total is larger, subtract the credit total from the debit total to get your ledger account total which goes in the debit column of the trial balance
Put the ledger account total in the credit or debit column of your trial balance (as identified above).
Karol Kawczyński Poland Local time: 05:08 Specializes in field Native speaker of: Polish PRO pts in category: 200