Nature of Accounts, Debit and Credit Rules: In columns, enter Debit or Credit to

Question

Nature of Accounts, Debit and Credit Rules: In columns, enter Debit or Credit to describe the journal entry necessary to increase and decrease the amount shown on the left, and which side of the account represents its normal balance.  

Increase

Decrease

Normal Balance

Asset

Liability

Common Stock

Dividends

Revenue

Expense

  

     

Increase

     

Decrease

     

Normal Balance

     

Asset

     

     

     

     

Liability

     

     

     

     

Common Stock

     

     

     

     

Dividends

     

     

     

     

Revenue

     

     

     

     

Expense

     

     

     

  

Explanation / Answer

Increase Decrease Normal Balance Asset Debit Credit Debit Liability Credit Debit Credit Common Stock Credit Debit Credit Dividends Debit Credit Debit Revenue Credit Debit Credit Expense Debit Credit Debit

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