Accounting

how can you determine what side is a debit and what side is a credit

A debit is an expense that is paid. A credit is income.


The following rules are applied to decide debit or credit side.

1.Debit what comes in and credit what goes out
2.Debit the receiver and credit the giver
3 Debit the expenses, losses and credit incomes and gains



The following rules are applied to decide debit or credit side.

1.Debit what comes in and credit what goes out
2.Debit the receiver and credit the giver
3 Debit the expenses, losses and credit incomes and gains

  1. 👍 0
  2. 👎 0
  3. 👁 64
asked by Joyce

Respond to this Question

First Name

Your Response

Similar Questions

  1. Accounting

    In a trial balance there are amounts in the debit side and credit side. How do i know which one is debtors or creditors? Returns are on both debit and credit side. Which one is Return Inwards?

    asked by Mike on September 20, 2012
  2. finance

    can someone correct these for me when you have a few minutes i'll appreciate any help thankyou.my answers are in parenthesis thanks again. Indicate whether a debit or credit decreases the normal balance of each of the following

    asked by student acc on October 30, 2007
  3. accounting

    Linking debit or credit with normal balance C5 Indicate whether a debit or credit decreases the normal balance of each of the following accounts: a. Office Supplies debit b. Repair Services Revenue debit c. Interest Payable credit

    asked by Christi on March 19, 2008
  4. accounting

    How can we pass the entry in journal and how can we check that which expenses comes in debit side nd which comes in credit side?

    asked by Sania zehra on June 3, 2012
  5. accounting

    Is there a method of determining if you debit or credit an account? How do you know if you should debit or credit a transaction? If it's a balance sheet accout you need to learn (and mrmorize) which side of the equation i't on,

    asked by diana on September 21, 2006
  6. accounting

    Post-closing trial balance What am I supposed to do when the balance is not equal? As in credits do not match debits. I follow the instructions in the book but no matter what it just does not match, even if i do all the debits on

    asked by Chels on February 20, 2008
  7. ledgers

    can u tell me if drawings are a credit or a debit A credit if sold? A debit if bought? Its they owner taken her wages If you take something from your checking account, is it a debit or a credit? Do you have more or less than you

    asked by claire on November 21, 2006
  8. accounting, correction

    Can someone correct these for me thanks I'll appreciate it very much.... Identify whether a debit or credit yields the indicated change for each of the following accounts: a. To increase Store Equipment My answer: Debit b. To

    asked by student acc on November 1, 2007
  9. more accounting

    I am so lost in this the book does not make sence, I think i did them right what do you think? QS 2-4 Analyzing debit or credit by account Identify whether a debit or credit yields the indicated change for each of the following

    asked by Christi on March 19, 2008
  10. Accounting

    Please double check me. Indicate whether a debit or credit decreases the normal balance of each of the following accounts. Office Supplies- debit Repair Service Revenue- debit Interest Payable- debit Accounts Receivable-

    asked by Kim on April 7, 2008

More Similar Questions