The Debit and Credit Rules Explained
To have the debit and credit rules explained, you must first learn about the accounting equation.
There are five different types of ledger accounts.
These are Assets, Liabilities, Owners Equity, Revenues and Expenses.
Assets, Liabilities and Owners Equity appear in the accounting equation.
Because of the logic of the accounting equation relationship, debit and credit rules always apply in journal entries.
This infographic shows how the debit and credit rules work in the accounting equation.
Now we can summarise the debit and credit rules as;
So you can learn more and have a teacher explain this in a video with examples, games and a quiz, take this Introductory Accounting Tutorial Course. Accounting Equation and Debits and Credits
Or return toAccounting Questions and Answers