Let us first understand how to interpret a Balance Sheet. (2/n)
While learning accountancy a student is taught to
šDebit all expenses, credit all income.
šDebit all assets, credit all liabilities.
šDebit the receiver, credit the giver.
Why is it so?
Let us find out the rationale behind three golden rules of accounts. šš§µ (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 (Outsiderās money) to expand his business. So, the Balance Sheet will look something like this, (6/n)

Profit is calculated as āIncome ā Expensesā.
So, we now have,
Equity + Income ā 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)
šDebit all expenses, credit all income.
šDebit all assets, credit all liabilities.
šDebit the receiver, credit the giver. (11/n)
Tagging @FincademyIn, @FI_InvestIndia, @abhiandniyu, @VidyaG88 for better reach š
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Trump is gonna let the Mueller investigation end all on it's own. It's obvious. All the hysteria of the past 2 weeks about his supposed impending firing of Mueller was a distraction. He was never going to fire Mueller and he's not going to
Mueller's officially end his investigation all on his own and he's gonna say he found no evidence of Trump campaign/Russian collusion during the 2016 election.
Democrats & DNC Media are going to LITERALLY have nothing coherent to say in response to that.
Mueller's team was 100% partisan.
That's why it's brilliant. NOBODY will be able to claim this team of partisan Democrats didn't go the EXTRA 20 MILES looking for ANY evidence they could find of Trump campaign/Russian collusion during the 2016 election
They looked high.
They looked low.
They looked underneath every rock, behind every tree, into every bush.
And they found...NOTHING.
Those saying Mueller will file obstruction charges against Trump: laughable.
What documents did Trump tell the Mueller team it couldn't have? What witnesses were withheld and never interviewed?
THERE WEREN'T ANY.
Mueller got full 100% cooperation as the record will show.
BREAKING: President Donald Trump has submitted his answers to questions from special counsel Robert Mueller
— Ryan Saavedra (@RealSaavedra) November 20, 2018
Mueller's officially end his investigation all on his own and he's gonna say he found no evidence of Trump campaign/Russian collusion during the 2016 election.
Democrats & DNC Media are going to LITERALLY have nothing coherent to say in response to that.
Mueller's team was 100% partisan.
That's why it's brilliant. NOBODY will be able to claim this team of partisan Democrats didn't go the EXTRA 20 MILES looking for ANY evidence they could find of Trump campaign/Russian collusion during the 2016 election
They looked high.
They looked low.
They looked underneath every rock, behind every tree, into every bush.
And they found...NOTHING.
Those saying Mueller will file obstruction charges against Trump: laughable.
What documents did Trump tell the Mueller team it couldn't have? What witnesses were withheld and never interviewed?
THERE WEREN'T ANY.
Mueller got full 100% cooperation as the record will show.