Accounting Basics: What Do Debit and Credit Mean?
Nolan Accounting Center
JUNE 15, 2025
Liability accounts include the items that show what the business owes to its creditors, including accounts payable, wages/salaries, and taxes. Equity accounts reflect the items of the owner’s equity in a company, including initial investments or stock holdings. When Should You Hire a Small Business Accounting Firm?
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