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Accounting A002
Statement/Normal balances/increases/decreases
17
Accounting
Undergraduate 1
10/18/2011
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Term
Assets - statement
 Definition
Balance sheet
Term
Liabilities - statement
 Definition
Balance sheet
Term
Owner's equity - statement
 Definition
Balance sheet
Term
Revenue - statement
 Definition
Income statement
Term
Expenses - statement
 Definition
Balance Sheet
Term
Drawings
 Definition
Statement of Owner's Equity
Term
Profit - statement
 Definition
Income statement and Statement of Owner's Equity
Term
Owner's Equity (ending)
 Definition
Statement of Owner's Equity and Balance Sheet
Term
Assets - normal balance
 Definition
Debit
Term
Assets - increases
 Definition
Debit
Term
Assets - decreases
 Definition
Credit
Term
Liabilities - normal balance
 Definition
Credit
Term
Liabilities - increases
 Definition
Credit
Term
Liabilities - decreases
 Definition
Credit
Term
Owner's equity - normal balance
 Definition
Credit
Term
Owner's equity - increases
 Definition
Credit
Term
Owner's equity - decreases
 Definition
Debit
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