The following table summarizes the rules of debit and credit. For each of the items (a) through (, indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) (c) Liability (d) Debit (e) Owner's equity: |(f) Credit Сapital Drawing Credit (g) (h) (i) Income statement accounts: Revenue (j) (k) Credit Expense (1) Credit Debit
The following table summarizes the rules of debit and credit. For each of the items (a) through (, indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset (a) (b) (c) Liability (d) Debit (e) Owner's equity: |(f) Credit Сapital Drawing Credit (g) (h) (i) Income statement accounts: Revenue (j) (k) Credit Expense (1) Credit Debit
Financial And Managerial Accounting
15th Edition
ISBN:9781337902663
Author:WARREN, Carl S.
Publisher:WARREN, Carl S.
Chapter2: Analyzing Transactions
Section: Chapter Questions
Problem 4E: Rules of debit and credit The following table summarizes the rules of debit and credit. For each of...
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