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    cisrocks17's Avatar
    cisrocks17 Posts: 1, Reputation: 1
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    #1

    Nov 5, 2011, 10:02 AM
    Assets, Liabilities, Equity
    If owner's equity and liabilities increased during the period, then assets must also have increased.

    Can someone help me remember what increases and what doesn't?

    Thank you!
    pready's Avatar
    pready Posts: 3,197, Reputation: 207
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    #2

    Nov 7, 2011, 07:51 AM
    Assets = Liabilities + Owners Equity

    The following types of accounts will increase with a debit or credit entry

    D Debits
    E Expense
    A Assets
    D Dividends

    C Credits
    U Unearned Revenues
    R Revenues
    L Liabilities
    S Shareholder Equity or Owners Equity

    In other words: debit entries will increase a DEAD type of account and a credit entry will increase a CURLS account.
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