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Understanding Debits and Credits in Accounting

Debit entries increase asset or expense accounts or decrease liability or equity accounts, and are positioned on the left side of accounting entries. Credit entries increase liability or equity accounts or decrease asset or expense accounts, and are positioned on the right side of accounting entries. Examples provided show common accounts that are debited or credited in accounting transactions.

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Che Rosnor Che Haron
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7 views1 page

Understanding Debits and Credits in Accounting

Debit entries increase asset or expense accounts or decrease liability or equity accounts, and are positioned on the left side of accounting entries. Credit entries increase liability or equity accounts or decrease asset or expense accounts, and are positioned on the right side of accounting entries. Examples provided show common accounts that are debited or credited in accounting transactions.

Uploaded by

Che Rosnor Che Haron
Copyright
© All Rights Reserved
We take content rights seriously. If you suspect this is your content, claim it here.
Available Formats
Download as DOCX, PDF, TXT or read online on Scribd

DEBIT AND CREDIT

 Debit is an accounting entry that either increases an asset or expense account, or


decreases a liability or equity account. It is positioned to the left in an accounting
entry.
 Credit is an accounting entry that either increases a liability or equity account, or
decreases an asset or expense account. It is positioned to the right in an accounting
entry.
NO CREDIT DEBIT
.
1 Advertising Cash
2 Utilities Accounts Receivable
3 Rent Inventory
4 Travel Prepaid Expenses
5 Salaries Property and Equipment
6 Accounts Vehicles
7 Income Tax Sales Revenue
8 Loans Service Revenue
9 Bank Fees Interest
10 Administration Investment

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