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Normal balances table

Normal balances table - increases it Here’s a chart that...

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The key to this problem is knowing what the normal balance of a certain type of account is. Once you know the normal balance, you’ll know what increases it and what decreases it. If the normal balance is a debit, a debit increases it. If the normal balance is a credit, a credit
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Unformatted text preview: increases it. Here’s a chart that shows it: Type of account Normal Bal Increase Decrease Asset Debit Debit Credit Withdrawals Debit Debit Credit Expenses Debit Debit Credit Liability Credit Credit Debit Capital Credit Credit Debit Revenues Credit Credit Debit...
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