| A | B |
|---|
| The values all things owned (assets) are on the accounting equation's | Debit side |
| The values of all equities or claims against the assets (liabilities and owner’s equity) are on the accounting equation's. | Credit side |
| An amount recorded on the left side of a T account | Debit |
| An amount recorded on the right side of a T account | Credit |
| The normal balance side of any asset account | Debit |
| The normal balance side of any liability account | Credit |
| The normal balance side of an owner’s capital account | Credit |
| Debits must equal credits | For each transaction |
| Decreases in an asset account | Credit |
| Increases in an asset account | Debit |
| Increases in any liability account | Credit |
| Decreases in any liability account | Debit |
| Increases in a revenue account | Credit |
| The normal balance side of any revenue account | Credit |
| Increases in an expense account | Debit |
| The normal balance side of any expense account | Debit |
| The normal balance side of an owner’s drawing account | Debit |
| Increases in an owner’s drawing account | Debit |
