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    mn321's Avatar
    mn321 Posts: 1, Reputation: 1
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    #1

    Nov 10, 2013, 06:54 AM
    Correct format of T-account. D on left, C on right but do I add/subtract?
    Please give me the correct format of T-account. I know debits are on left and credits are on right, but do I need to add/subtract anything?
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Nov 11, 2013, 07:36 AM
    Here is a formula that will help you with debits and credits:

    D - Debits (Normal Debit Balance)
    E - Expenses
    A - Assets
    D - Dividends/Drawings

    C - Credits (Normal Credit Balance)
    U - Unearned Revenues
    R - Revenues
    L - Liabilities
    S - Stock/Capital

    An account with a normal debit balance will increase with a debit entry and will decrease with a credit entry.

    An account with a normal credit balance will increase with a credit entry and will decrease with a debit entry.
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