Double-Entry Accounting
Assets
= Liabilities +
Assets
Debit for
increases
+
LO 3
Credit for
decreases
-
Liabilities
Debit for
decreases
-
Credit for
increases
+
© 2010 McGraw-Hill Ryerson Limited.
Equity
Equity
Debit for Credit for
decreases increases
-
+
3-10
Double-Entry Accounting
Equity Accounts
Capital
Debit for
decreases
Credit for
increases
-
+
LO 3
Withdrawals
Debit for
increases
+
Revenues
Expenses
Credit for Debit for Credit for Debit for Credit for
decreases decreases increases increases decreases
-
-
© 2010 McGraw-Hill Ryerson Limited.
+
+
3-11