Debit & Credit

Question 1

Assets

Answer 1

Debit - Increases (Normal Balance)
Credit - Decreases

Question 2

Liabilities

Answer 2

Debit - Decreases
Credit - Increases (Normal Balance)

Question 3

Owner’s Capital

Answer 3

Debits - Decrease
Credits - Increase (Normal Balance)

Debits Cash
Credits Owner’s Capital

Question 4

Owner’s Drawing

Answer 4

Debits - Increase (Normal Balance)
Credits - Decrease

Debits Owner’s Drawings
Credits Cash

Question 5

Revenues

Answer 5

Debit - Decrease
Credit - Increase (Normal Balance)

Debit Cash
Credits Revenues

Question 6

Expenses

Answer 6

Debit - Increase (Normal Balance)
Credit - Decrease

Debit - Expenses
Credit - Cash

Question 7

Basic & Expanded Accounting Equation Visual ( Debit & Credit )

Answer 7