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About the application:

What is Debit and Credit in Accounting? Learn here with the fully unlocked ver of Accounting Play - Debits & Credits. Receive all T-Accounts, infinite time, and infinite play. Students: crush your accounting exams Bookkeepers: learn how to directly adjust the general ledger Entrepreneurs: understand your books Check out the study section and subscribe for good gratis resources, including a video course with printouts to assist you practice. Accounting Play Paid teaches the accounting equation with an iPhone & iPad mini game. Use Debit and Credit coins to learn, study, primary accounting and training. Play versus the globe as you learn. Study materials to learn the equation, debits & credits, journal entries, and accounting theory is included for gratis. Whether you are studying for the CPA exam or taking your first accounting course, Accounting Play will assist you learn in a quick and fun way. More at: http://www.AccountingPlay.com Debits and credits form the foundation of the accounting system. The mechanics of the system can be tough to receive a first, but the mini game makes it much easier! Once understood, you will be able to properly classify and enter transactions. These entries makeup the data used to prepare financial statements such as the balance sheet and income statement. Every accounting transaction involves at least one debit and one credit. The sum of debits and the sum of credits for each transaction and the total of all transactions are always equal. A list of all transactions appears in the general ledger. Debits are always presented before credits. The double entry system categorizes transactions using five acc types: Assets, liabilities, equity, income, and expense. The same acc may also be used in a two-part transaction if there is an increase and a decrease of the same category. Assets, liabilities, and equity create up the balance sheet and form the equation: A = L + E. Revenue and expenses create up the income statement and can generally be expressed as Revenue – Expenses = Income or Loss. To assist visually represent debit and credit entries, a T-account may be used. This is visually represented in Accounting Mini game – Debits and Credits as a large green T. The left side of the T-account is a debit and the right side is a credit. Actual debit and credit transactions will be recorded in the general ledger, which accumulates all of the transactions, by acc. T-accounts assist both students and specialists understand accounting adjustments, which are then created with journal entries. Journal entries are the mechanism of how accounting transactions are entered. Every journal entry has debits which = credits. Because accounting tool replaces the need for journal entries to record transactions as they happen, adjusting journal entries are commonplace to adjust the accounting record. Each transaction in accounting tool has a debit and credit side, but the player can be unaware of this as the transaction is created most often in a graphically friendly method, such as entering a check in a register and assigning it an acc. Adjusting journal entries are generally created to correct mistakes and create non-cash adjustments, such as depreciation. Debits and Credits Mini game is designed to challenge and teach common accounting transactions in a visually entertaining and engaging method.