[mn321]

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]

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.