Accounting Debit and Credit

Apply the rules of Debit and Credit to the following accounts:

A decrease to cash is an _______?

• Debit

• Credit

• Asset

• Expense

An increase to Utilities Expense is a

• Debit

• Credit

• Asset

• Liability

The normal balance for Cash is a

• Debit

• Credit

• Asset

• Equity

An increase to a revenue account is a

• Debit

• Credit

• Equity

• Asset

An increase to Supplies is a

• Debit

• Credit

• Asset

• Liability

An increase to Office Furniture is a

• Debit

• Credit

• Expense

• Liability

A decrease to Accounts Payable is a

• Debit

• Credit

• Asset

• Liability

A financial statement that reports assets, liabilities, and owner's equity on a specific date.

• balance sheet

• income statement

• statement of cash flow

• trial balance

What is the normal balance for assets?

• DEBIT
• CREDIT 

What is the normal balance for liabilities?

• DEBIT
• CREDIT