While Trillanes has no problem convincing local mainstream media that Duterte hides billions in the bank, this US-based accountant says otherwise.
Edwin Jamora, a US-based blogger and Duterte supporter, took to Facebook debunking the lie Trillanes has been peddling on social and mainstream media.
In case you don’t know, Jamora is an accountant by profession in the state of California.
So without further adieu, let us read Jamora’s Facebook post and learn basic accounting.
In Accounting, debits and credits have natural signs (positive or negative) depending on as to whether or not they are assets, liabilities, equity, revenues, and expenses.
Cash is an asset. Therefore, the natural balance is a debit, a positive balance. When it goes into a negative, it means, something is wrong.
So, in accounting for cash transactions, the debits and the credits play out like this.
The beginning balance + debits – credits = ending balance. Trust me, this is not rocket science.
I don’t really need to explain the world of debits and credits to prove that Trillanes goal was just to shame the President. He just wants to throw it out there that the President has billions. How did he come up with billions?
According to AMLC, Trillanes added the debits, which are inflows of cash, to the credits which are outflows of cash.
Tanga lang ang nag-a-add nang ganun. No Accounting 101 is needed.
Here are comments on social media in reaction to Jamora’s Facebook post.
Val Soriano Mayrina elaborates: “May 10k na deposit sa aking account thru my employer as my salary. Then i withdraw all of it. According to trililing, 10k debit +10k credit =20k. Then i deposit the said money to my wife’s account. And according again to trilliling. 10k + 10k + 10k =30k. Stupidong gagong trillanes.”
Rollie Nejal writes: “All #TrillanesBrainless knows in accounting is debit+credit(-)kupit=offshore account “
Josephine Velasco says: “He is using the same principle that COA Heidi in cooperation wd Conchita to firm d Corona computation.”