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TVS Accounting1-2

Accounting 1 Chapter 2

QuestionAnswer
An accounting device used to analyze transactions T-Account
An amount recorded on the left side Debit
An amount recorded on the right side Credit
The side of the account that is increased Normal Balance
A list of accounts used by a business Chart of Accounts
Normal Balance of Supplies Debit
Normal Balance of Cash Debit
Decrease side of an Asset Credit
Normal Balance of Accounts payable Accounts Credit
Decrease side of a Liability Credit
Normal Balance of Capital Credit
Normal Balance of Sales Credit
Normal Balance of Expense Accounts Debit
Normal Balance of Drawing Debit
Decrease side of Capital Debit
Created by: TammieVanScyoc
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