Double Entry Flashcards
Debits and Credits
1
Q
When Assets increase you?
A
Debit
2
Q
When Assets decrease you?
A
Credit
3
Q
When Liabilities increase you?
A
Credit
4
Q
When Liabilities decrease you?
A
Debit
5
Q
When Income/ Revenue increase you?
A
Credit
6
Q
When Income/ Revenue decrease you?
A
Debit
7
Q
When Owners equity (capital) increase you?
A
Credit
8
Q
When Owners equity (capital) decrease you?
A
Debit
9
Q
When Expenses increase you?
A
Debit
10
Q
When Expenses decrease you?
A
Credit
