Rules of Debit and CreditThe following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance sheet accounts: Asset Debit Liability Debit Stockholders' equity: Common Stock Credit Retained Earnings Credit Dividends Debit Credit Income statement accounts: Revenue Credit Expense Credit Debit

Rules of Debit and Credit The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit. Increase Decrease Normal Balance Balance...

Rules of Debit and Credit

The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit.

	Increase	Decrease	Normal Balance
Balance sheet accounts:
	Asset			Debit
	Liability		Debit
	Stockholders' equity:
		Common Stock	Credit
		Retained Earnings			Credit
		Dividends	Debit	Credit
Income statement accounts:
	Revenue			Credit
	Expense		Credit	Debit

Jun 09, 2022

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