What do you mean by the term Entry
What do you mean by the term Entry in Accountancy?
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Entry means you are permitted to come in the specific place. Similar meanings in accounting, we state, “Please pass the entry of this transaction." It signifies that please permit this transaction to enter in the books of company.
Therefore entry means to record the transaction in journal by debiting one account and crediting another account.
Capital: In easy word, capital signifies the amount or asset that is invested in business by businessman or owner of business. Whenever the business is closed, after paying exterior creditors, balance amount will be his capital that he can attain.
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