Using Debits and Credits
To Record Transactions
Using the Major Type of Accounts
Skills Test

Return To Quiz Menu

Simple Debit/Credit Rule
All Accounts have a Normal Balance which is either a Debit Balance or a Credit Balance. Assets, Expenses, and Draws all have Normal Debit Balances. Liabilities, Owner's Equity (Capital), and Revenue all have Normal Credit Balances. Enter an amount in the Normal Balance Side of an Account to Increase the Balance of an Account and in the opposite side to Decrease the Balance of an Account.

Instructions:
Select the appropriate Major Type of Account to Debit and Credit to record the transaction for the following transactions:

Transaction .

.

Select the Major Type of Account to Debit from the list above
Explanation
Select the Major Type of Account to Credit from the list above
Explanation

Go Top        Return To Quiz Menu

Contact us

If you ’re after some specific information let us know, or if you are interested in supporting our work and would like to contribute, you are welcome to make a small donation. It will be a great help and will surely be appreciated.