Phuthu Stay Phut, Don't go!

If you can recall, last week I talked about an account often being referred to as a T account. Well, sometimes people also depict T accounts as balancing scales which is not a bad idea when you consider that accounting golden rule number 3 states that total debits must equal total credits.

So if we purchase office furniture, cash will go out of our bank account and hence decrease in value (credit) but our furniture account will increase in value (debit) and hence our books will stay in balance.

Easy Ay?

Other posts in this series:

Accounting golden rule number 1

Accounting golden rule number 2

Reference:

The 80 Minute MBA by Richard Reeves & John Knell

1. Spring fills us all with a sense of anticipation. There is just something fresh and vibey in the air. Anything is possible.
2. The Tri-Nations title belongs to us, thanks to the Bokke!
3. I love our local radio stations that keep me entertained all the way to work. They have such a wicked sense of humour.
4. I’m a closet case Spur fan and love their salad valley, especially with summer just around the corner and my %$*&# maternity clothes heartlessly sneaking a look at me every now and then.
5. I love the fact that we can all dream. ..Whether it’s about a trip through Africa, less political correctness, a healthier South Africa, starting a family, setting up our own business or buying a Landie. It’s something no-one can take away from us – our dreams.

By Elzet

Braai Challenge No. 1 – Answers:

1. Sosatie
2. Boerie
3. Blitz
4. Tong
5. Dop
6. Bru
7. Phuthu
8. Tassies