NOTE: Simply place your mouse cursor over an answer in each column. There is no need to click the answer. |
Account Type |
To Increase
The Account's Balance |
To Decrease
The Accounts Balance |
Account's
Normal Balance |
Balance Sheet or
Income Statement Account |
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Asset | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
Liabilities | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
Owner's Equity (Capital) | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
Revenue | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
Expense | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
Draws | Debit | Credit | Debit | Credit | Debit | Credit | Balance Sheet | Income Statement |
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