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    Debit Rules

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    wsdc

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    © All Rights Reserved
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    Debit Rules

    Uploaded by

    wsdc
    2 views1 page

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    © © All Rights Reserved

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    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    2 views1 page

    Debit Rules

    Uploaded by

    wsdc

    Copyright:

    © All Rights Reserved
    Download as DOCX, PDF, TXT or read online from Scribd
    Download as docx, pdf, or txt
    of 1

    Michael F. Clemente Michael F.

    Clemente
    Chart Of Account
    DEBIT RULES ASSETS
    1. Increase in assets  Cash
    2. Decrease In Liabilities  Notes Receivable
    3. Decrease In Owner's
     Account Receivable
    Equity
     Withdrawal of
     Interest Receivable
    Assets  Prepaid Expenses
     Increase in  Supplies
    expenses and  Land
    Losses  Building
     Decrease in  Equipment
    Income  Furniture and Fixtures
    CREDIT RULES  Tools
     Accumulated Assets
    1. Decrease in Assets
    2. Increase in Liabilities LIABILITIES
    3. Increase in Owner’s
    Equity  Notes Payable
     Investment  Accounts Payable
     Decrease in  Accrued Expenses
    Expenses And  Unearned Income
    Losses
     Mortage Payable
     Decrease in
     Loans Payable
    Income
     Bonds Payable

    OWNERS EQUITY

     Name, Capital
     Name, Drawing

    INCOME

     Sales
     Sales Discount
     Rent Income
     Service Revenue
     Commission Income
     Interest Income

    EXPENSES

     Purchases
     Salary Expense
     Advertising Expense
     Depreciation Expense
     Commission Expense
     Rent Expense
     Taxes and Licenses
     Bad Dept Expenses
     Supplies Expense
     Insurance Expense
     Utilities Expense
     Repair Expense
     Interest Expense

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