Basic Accounting Concepts

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  • Created by: LizAnn
  • Created on: 24-04-16 15:43

Assets

An increase in Assets is Debited

A decrease in Assets is Credited

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Expenses/Losses

An increase in Expenses/Losses is Dr.

A decrease in Cr.

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Liabilities

decrease in liabilities is Dr.

An increase is Cr.

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Revenue/Gains

A decrease in revenue/gains is Dr.

An increase is Cr.

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Capital

A decrease in the capital is Dr.

An increase is Cr.

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