Unfortunately we could not locate the table you're looking for.<h1><strong>DOUBLE ENTRY BOOK-KEEPING </strong></h1> CONTENT <ol> <li>Meaning of Double Entry Book-keeping</li> <li>Double Entry Treatment of Assets</li> <li>Double Entry Treatment of Liability</li> <li>Double Entry Treatment of Expenses</li> </ol>   <h2><strong>Meaning of Double Entry Book-keeping</strong></h2> Double entry book-keeping means that every debit entry must have a corresponding credit entry. This is a principle or rule that is followed globally in book-keeping system. <h2><strong>Further Explanation</strong></h2> The fundamental concept of accounting is that every business transaction in money or money-worth has two effects: the receipts of a benefit by one account and the giving of a like benefit by another account. Thus, if a value is given, it is also received. The meaning of this is that where there is a giver, there is also a receiver who is called a debtor. The first Golden Rule of bookkeeping therefore states that, <strong>you debit the receiver and credit the giver.</strong> In the process of debiting the account receiving the value and crediting the account surrendering the value, you end up recording every transaction twice, once as a debit entry and again as a credit entry. In effect, <strong>every credit entry must have a corresponding debit entry, and every debit must have a corresponding credit entry.</strong>

<h1><strong>DOUBLE ENTRY BOOK-KEEPING</strong></h1> CONTENT <ol> <li>Meaning of Journals</li> <li>Meaning of Ledgers</li> <li>Classes of Ledger</li> <li>Classification of Accounts</li> </ol> <br> <h2><strong>Meaning of Journals</strong></h2> <strong>Journals are documents which contain the daily records of business transactions.</strong> Information from source documents are first recorded in journals before being transferred to the principal books of account. Journals are called day books because they need to be updated daily. Each record in a journal is called an entry. Journals are also called <strong>books of original entry</strong> or <strong>books of prime entry</strong> because the entries are transferred to a second book i.e. principal book of account. <h2><strong>Meaning of Ledgers</strong></h2> <strong>Ledgers are principal books of account used to record the weekly and monthly transactions from the journal entries</strong>. It is therefore called a book of second or secondary entry because transactions are transferred from the journal entries to it. <h2><strong>Classes of Ledger</strong></h2> The following are the classes of ledger we have: