Rules of Debit and Credit

The following table summarizes the rules of debit and credit. Indicate whether the proper answer is a debit or a credit.

			Increase	Decrease	Normal Balance
Balance sheet accounts:
	Asset				Debit
	Liability			Debit
	Stockholders' equity:
		Common Stock	Credit
		Retained Earnings			Credit
		Dividends	Debit	Credit
Income statement accounts:
	Revenue				Credit
	Expense			Credit	Debit