ACCOUNT
TYPE
EXAMPLES
TO INCREASE
TO
DECREASE
NORMAL
BALANCE
FINANCIAL
STATEMENT
Asset Cash
Accounts Receivable
Land
Truck BALANCE
Equipment DEBIT CREDIT DEBIT SHEET
Prepaid Insurance
(any other prepaid
expense)
Supplies (what is
left)
Liability Accounts Payable
Wages Payable
Notes Payable BALANCE
ANY Payable CREDIT DEBIT CREDIT SHEET
Unearned Rent
or other
Unearned Revenue
Equity Common Stock CREDIT -------------- CREDIT BALANCE
Retained Earnings SHEET
Dividends DEBIT -------------- DEBIT
RETAINED
EARNINGS
Revenue Service Revenue
Fees Earned
Sales INCOME
Rent Revenue CREDIT -------------- CREDIT STATEMENT
Sales Commissions
Interest Revenue
Expense Wages Expense
Rent Expense
Utilities Expense
Supplies Expense INCOME
(what is used) DEBIT -------------- DEBIT STATEMENT
Insurance Expense
Misc. Expense
Depreciation Exp.
ANY Expense
Contra Asset
Accumulated
Depreciation
CREDIT DEBIT CREDIT
BALANCE
SHEET
