3240
Jul 14, 2012, 04:59 AM
How do I know when an account have a debit or credit balance when doing a trial balance
pready
Jul 14, 2012, 11:34 AM
Here is a way to remember what types of accounts have a normal Debit or Credit balance:
D - Debit balance
E - Expenses
A - Assets
D - Dividends (owner withdrawals)
C - Credit balance
U - Unearned Revenues
R - Revenues
L - Liabilities
S - Shareholder's Equity (Owners Capital)