Debit Credit Review - DEBIT Increased with a Debit...

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ACCOUNTING 6000 SUPPLEMENTAL MATERIAL NORMAL BALANCES ASSETS – Normal Balance – DEBIT Increased with a Debit Decreased with a Credit LIABILITIES – Normal Balance – CREDIT Increased with a Credit Decreased with a Debit OWNER’S EQUITY – Normal Balance – CREDIT Increased with a Credit Decreased with a Debit REVENUES – Normal Balance – CREDIT Increased with a Credit Decreased with a Debit EXPENSES – Normal Balance –
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Unformatted text preview: DEBIT Increased with a Debit Decreased with a Credit ACCOUNTING EQUATION (Note: Normal Balances are highlighted) Basic : Assets ( Dr. ) = Liabilities ( Cr .) + Owner’s Equity ( Cr. ) Expanded : Assets (Dr .) = Liabilities ( Cr. ) + Capital ( Cr. ) – Withdrawals ( Dr. ) + Revenues ( Cr. ) – Expenses (Dr ) The Total DEBITS Must Always Equal the Total CREDITS (Double Entry)...
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This note was uploaded on 11/13/2011 for the course ACCOUNTING 6000 taught by Professor None during the Spring '11 term at Birmingham-Southern College.

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