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  • Analysis Between Debit & Credit

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    Muhammad Waqas
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    The document compares debit and credit entries for increases and decreases in different business account types. It shows that increases in assets and expenses are debits, while increases in capital, liabilities, and income are credits. Conversely, decreases in those account types reverse the entry, with decreases in assets and expenses being credits, and decreases in capital, liabilities, and income being debits.

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    Analysis Between Debit & Credit

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    The document compares debit and credit entries for increases and decreases in different business account types. It shows that increases in assets and expenses are debits, while increases in capital, liabilities, and income are credits. Conversely, decreases in those account types reverse the entry, with decreases in assets and expenses being credits, and decreases in capital, liabilities, and income being debits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
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    4 views1 page

    Analysis Between Debit & Credit

    Uploaded by

    Muhammad Waqas
    The document compares debit and credit entries for increases and decreases in different business account types. It shows that increases in assets and expenses are debits, while increases in capital, liabilities, and income are credits. Conversely, decreases in those account types reverse the entry, with decreases in assets and expenses being credits, and decreases in capital, liabilities, and income being debits.

    Copyright:

    © All Rights Reserved
    Download as PDF, TXT or read online from Scribd
    Flag for inappropriate content
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    Analysis between Debit & Credit

    With respect to Business


    Type Increase Decrease
    Asset Debit Credit
    Expense Debit Credit
    Capital Credit Debit
    Liability Credit Debit
    Income Credit Debit

    Increase in Asset is Debit


    Increase in Expense is Debit
    Increase in Capital is Credit
    Increase in Liability is Credit
    Increase in Income is Credit

    Decrease in Asset is Credit


    Decrease in Expense is Credit
    Decrease in Capital is Debit
    Decrease in Liability is Debit
    Decrease in Income is Debit

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