Accounting Chapter 2 - Identify 2: Left, Right, Debit, Credit

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Decreases in any liability account are shown an a T account's __________ side.

left, debit

Increases in an asset account are shown on a T account's __________ side.

left, debit

The normal balance side of any asset account is the __________ side.

left, debit

The normal balance side of any expense account is the __________ side.

left, debit

The normal balance side of any owner's drawing account is the __________ side.

left, debit

The values of all things owned (assets) are on the accounting equation's "Left or Right" side.

left

The values of all equities or claims against the assets (liabilities and owner's equity) are on the accounting equation's "Left or Right" side.

right

Decreases in an asset account are shown on a T account's __________ side.

right, credit

Increases in a revenue account are shown on a T account's __________ side.

right, credit

The normal balance side of an owner's capital account is the __________ side.

right, credit

The normal balance side of any liability account is the __________ side.

right, credit

The normal balance side of any revenue account is the __________ side.

right, credit


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