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DR/CR what actually means of these words. Debit OR Credit ?

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Question added by asif badar zaman , CHEIF ACCOUNTANT , olayan
Date Posted: 2014/02/10
Dasarathi Rath
by Dasarathi Rath , Sr. Accountant , Al Luban Special Investment LLC

The actual meaning of Dr /Cr of these word is...

1.Debit is increase in the value of Assets and Expenses and decrease in income, libilties and equity.

2.Credit is  increase in libilities , equity and incomes and decrease in Asset and expenses.

asif badar zaman
by asif badar zaman , CHEIF ACCOUNTANT , olayan

@dasarathi thanks for the defination but my friend i mean the words it self what does mean of debit and credit.

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