Let us first understand how to interpret a Balance Sheet. (2/n)
While learning accountancy a student is taught to
👉Debit all expenses, credit all income.
👉Debit all assets, credit all liabilities.
👉Debit the receiver, credit the giver.
Why is it so?
Let us find out the rationale behind three golden rules of accounts. 👇🧵 (1/n)
Let us first understand how to interpret a Balance Sheet. (2/n)

Example: The customer from whom the amount was receivable (Debtor) will get converted into Cash the moment he pays money. (4/n)

Also, the businessman decides to take loan (Outsider’s money) to expand his business. So, the Balance Sheet will look something like this, (6/n)

Profit is calculated as ‘Income – Expenses’.
So, we now have,
Equity + Income – Expenses + Other liabilities = Assets
(8/n)
Equity + Income + Other liabilities = Assets + Expenses
This is a beautiful equation.
LHS shows us all the sources of money and RHS shows us its application. (9/n)
👉Debit all expenses, credit all income.
👉Debit all assets, credit all liabilities.
👉Debit the receiver, credit the giver. (11/n)
Tagging @FincademyIn, @FI_InvestIndia, @abhiandniyu, @VidyaG88 for better reach 🙏
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Joshua Hawley, Missouri's Junior Senator, is an autocrat in waiting.
His arrogance and ambition prohibit any allegiance to morality or character.
Thus far, his plan to seize the presidency has fallen into place.
An explanation in photographs.
🧵
Joshua grew up in the next town over from mine, in Lexington, Missouri. A a teenager he wrote a column for the local paper, where he perfected his political condescension.
2/
By the time he reached high-school, however, he attended an elite private high-school 60 miles away in Kansas City.
This is a piece of his history he works to erase as he builds up his counterfeit image as a rural farm boy from a small town who grew up farming.
3/
After graduating from Rockhurst High School, he attended Stanford University where he wrote for the Stanford Review--a libertarian publication founded by Peter Thiel..
4/
(Full Link: https://t.co/zixs1HazLk)
Hawley's writing during his early 20s reveals that he wished for the curriculum at Stanford and other "liberal institutions" to change and to incorporate more conservative moral values.
This led him to create the "Freedom Forum."
5/
His arrogance and ambition prohibit any allegiance to morality or character.
Thus far, his plan to seize the presidency has fallen into place.
An explanation in photographs.
🧵
Joshua grew up in the next town over from mine, in Lexington, Missouri. A a teenager he wrote a column for the local paper, where he perfected his political condescension.
2/

By the time he reached high-school, however, he attended an elite private high-school 60 miles away in Kansas City.
This is a piece of his history he works to erase as he builds up his counterfeit image as a rural farm boy from a small town who grew up farming.
3/

After graduating from Rockhurst High School, he attended Stanford University where he wrote for the Stanford Review--a libertarian publication founded by Peter Thiel..
4/
(Full Link: https://t.co/zixs1HazLk)

Hawley's writing during his early 20s reveals that he wished for the curriculum at Stanford and other "liberal institutions" to change and to incorporate more conservative moral values.
This led him to create the "Freedom Forum."
5/
