In double entry bookkeeping, debits and credits (abbreviated Dr and Cr, respectively) are entries made in accountledgers to record changes in value resulting from business transactions. Generally speaking, the source account for the transaction is credited (that is, an entry is made on the right side of the account's ledger) and the destination account is debited (that is, an entry is made on the left side). Total debits must equal total credits for each transaction; individual transactions may require multiple debit and credit entries to record.
The difference between the total debits and total credits in a single account is the account's balance. If debits exceed credits, the account has a debit balance; if credits exceed debits, the account has a credit balance. For the company as a whole, the totals of debit balances and credit balances must be equal as shown in the trial balance report, otherwise an error has occurred.
Credit (from Latincredit, "(he/she/it) believes") is the trust which allows one party to provide money or resources to another party where that second party does not reimburse the first party immediately (thereby generating a debt), but instead arranges either to repay or return those resources (or other materials of equal value) at a later date. The resources provided may be financial (e.g. granting a loan), or they may consist of goods or services (e.g. consumer credit). Credit encompasses any form of deferred payment. Credit is extended by a creditor, also known as a lender, to a debtor, also known as a borrower.
Credit does not necessarily require money. The credit concept can be applied in barter economies as well, based on the direct exchange of goods and services. However, in modern societies, credit is usually denominated by a unit of account. Unlike money, credit itself cannot act as a unit of account.
Movements of financial capital are normally dependent on either credit or equity transfers. Credit is in turn dependent on the reputation or creditworthiness of the entity which takes responsibility for the funds. Credit is also traded in financial markets. The purest form is the credit default swap market, which is essentially a traded market in credit insurance. A credit default swap represents the price at which two parties exchange this risk–the protection seller takes the risk of default of the credit in return for a payment, commonly denoted in basis points (one basis point is 1/100 of a percent) of the notional amount to be referenced, while the protection buyer pays this premium and in the case of default of the underlying (a loan, bond or other receivable), delivers this receivable to the protection seller and receives from the seller the par amount (that is, is made whole).
In armed conflict and in daily life, ships have become an integral part of modern commercial and military systems. Fishing boats are used by millions of fishermen throughout the world. Military forces operate vessels for naval warfare and to transport and support forces ashore. Commercial vessels, nearly 35,000 in number, carried 7.4billion tons of cargo in 2007. As of 2011, there are about 104,304 ships with IMO numbers in the world.
Ships were always a key in history's great explorations and scientific and technological development. Navigators such as Zheng He spread such inventions as the compass and gunpowder. Ships have been used for such purposes as colonization and the slave trade, and have served scientific, cultural, and humanitarian needs. After the 16th century, new crops that had come from and to the Americas via the European seafarers significantly contributed to the world population growth.Ship transport has shaped the world's economy into today's energy-intensive pattern.
Ship's A.I. was created untold millennia ago by the Celestials as the operating system for a data collection device. The Celestials had genetically manipulated humanity, and they left the Ship in the area that would come to be known as Mongolia to monitor humanity's progress.
Circa 1100 A.D., a Mongolian immortal known as Garbha-Hsien (later known as Saul), discovered the Ship and lived next to it while he researched its mysteries. Saul never attempted to enter the Ship.
In time, the Egyptian immortal En Sabah Nur learned of Saul and sought him out as another immortal. In a confrontation, En Sabah Nur slew all of Saul's guards. Saul then sought to humble his fellow "forever-walker" by revealing the secret titanic vessel. Having had previous experience with futuristic technology due to his encounters with Rama-Tut, Nur attacked Saul and left the other immortal for dead and entered the Ship. He emerged later as a vastly changed being who now called himself Apocalypse.
Pic credit ... This week on episode 22 of Season 8 of The Curse ofOak Island, the team is hoping to dig a massive ship out of the swamp, a vessel they suspect was laden with treasure ... Billy’s digger had everybody all excited when it unearthed what looked like a ship’s handrail ... Let’s hope it’s the ship! ... Pic credit.
The newSurfaceLaptop was the marquee arrival in today’s Microsoft announcement, but boy howdy, the company also dropped a whole bunch of new accessories ...Teams ... ImageCredits. Microsoft ... They’re shipping later this month. Image Credits ... They’ll ship in June for $50 and $100, respectively ... That will ship in June for a reasonable $70. Image Credits ... .
ImageCredit... Image Credit ... Image Credit ... Image Credit ... Image Credit ... Image Credit ... Dubai Industrial City and their team have been a pillar of our growth by offering world-class infrastructure and facilities.” Image Credit ... Image Credit ... Image Credit ... Image Credit ... Image Credit.
Victims say they entered their credit card information to pay what they thought was a shipping fee ... “In other versions, the form is actually a phishing scam that requests banking and credit card information,” the bureau says on its website ... PhotoCredit ... Vaccines cannot be shipped ...
Some notable Provincial Government leaders included the more notable Governor Sarabia and Governor Beumont who particularly cooperated with representatives of foreign firms to improve the antiquated system of sugar production which introduced credit facilities, shipping lines, and marketing outlets.
The SurfaceLaptop 4 is available to order right now, but orders won't start shipping until April 15 in the US. That means if you preorder one, you should be able to get it in your hands in just a few days time. Of course, these days it's anyone's guess how long things will actually take to ship. (Image credit ... (Image credit.
A new Mass EffectLegendary Edition trailer has showcased the various graphical changes made to the games. READ MORE. It’s official. ‘Anthem’ is shutting down ...Credit ... EA also says that many of the world designs have also been updated by “comparing levels we shipped to their original concept art, design intentions, and artistic inspiration”.
“I suppose there might have been a few survivors, but certainly the ship would have been sunk ... Serving as a first lieutenant and second-in-command aboard the Wallace, Philip is credited with saving the ship from sure destruction from an attacking Luftwaffe bomber ... Credit ... Credit ... Credit.
The bogus surveys are reportedly asking victims to pay for shipping and handling in order to receive a prize that is never delivered ... ask for your credit card or bank account number to pay for a ‘free’ reward.‘ ... • Never give out bank account, credit card, or personal information.
They're still coming ...Maybe it copies your bank or credit card information and sends it to a third party ... I got a notice that an expensive watch I purchased online was ready to be shipped and a charge of $8,000 made to my credit card. The criminal hoped I'd respond in a fury but I checked my credit card account and it was just what I thought it was.