Accounting: Tools for Business Decision Making, 5th Edition

Published by Wiley
ISBN 10: 1118128168
ISBN 13: 978-1-11812-816-9

Chapter 3 - The Accounting Information System - Questions - Page 137: 9


The Debit / Credit rules as applied to Assets, Liabilities and Common stock account are as under.

Work Step by Step

Assets: Debit for increase - Credit for decrease; Liabilities: Debit for decrease - Credit for increase; Common stock account: Debit for decrease - Credit for increase.
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