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Financial Accounting Course |
| U.S. GAAP Codification | Accounting Topics |
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Credit Accounts 01 Examples |
| U.S. GAAP Codification, Accounting by Topic, Accounting Terms |
| Financial Accounting, Intermediate Accounting, Advanced Accounting |
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The following accounts have normal balances on the
credit side 1. Liability accounts 2. Equity accounts 3. Revenue and gain accounts Increases and decreases 1. Increases in liability accounts are recorded on the credit side 2. Decreases in liability accounts are recorded on the debit side 3. Increases in equity accounts are recorded on the credit side 4. Decreases in equity accounts are recorded on the debit side 5. Increases in revenue and gain accounts are recorded on the credit side 6. Decreases in revenue and gain are recorded on the debit side |
Examples of liability accounts
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Examples of equity accounts
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Examples of revenue and gain accounts
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Codification Topics at the 100 Level |
| Topic 105: Generally Accepted Accounting Principles |
| U.S. GAAP by Topic |
| Accounting Topics |
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