1st Year Accounting Class 07 Rules of Debit And Credit

Question 02) Rules of debit and credit 
XI Accounting Class 07 Rules of debit & Credit


Debit 
Credit 
Increase in assets
Decrease in assets
Increase in expenses
Decrease in expenses
Decrease in liabilities
Increase in liabilities
Decrease in income
Increase in income
Decrease in equity
Increase in equity

 check this out
Complete List of Heads Of Accounts & Normal Balance

Accounting Equation



Accounting Element
Normal Balance
To Increase
To Decrease
1. Assets
Debit
Debit
Credit
2. Liabilities
Credit
Credit
Debit
3. Capital
Credit
Credit
Debit
4. Withdrawal
Debit
Debit
Credit
5. Income
Credit
Credit
Debit
6. Expense
Debit
Debit
Credit


Post a Comment

0 Comments