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    m_castillo06's Avatar
    m_castillo06 Posts: 3, Reputation: 1
    New Member
    		  
    #1

    Feb 15, 2009, 04:18 PM
    Credit or debit
    How do I know what to put in debit or credit on a t_account? That is the only thing messing me up right now.
    Cynthia514's Avatar
    Cynthia514 Posts: 37, Reputation: 1
    Junior Member
    		  
    #2

    Feb 15, 2009, 11:18 PM
    Normally, assets, exxpense and dividends are on debit side ( to increase) and the rests are on the credit side(liabilities, shareholders' equity ( Commonshare, prefershare, contribution surplus)...
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
    Ultra Member
    		  
    #3

    Feb 16, 2009, 01:50 PM

    There are three parts to a T-Account

    1. The Top of the T is for the Tor name of the Account

    2. The Left side of the T is for your Debits

    3. The Right side of the T is for your Credits

    The Accounts that have a normal Debit balance are: Expenses, Assets, and Dividends

    The Accounts that have a normal Credit balance are: Urnearned Revenues, Revenues, Liabilities, and Shareholder Equity accounts
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