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Chapter 4: Double Entry Principles - Coggle Diagram
Chapter 4: Double Entry Principles
Assets
Decrease in Assets = Credit
Increase in Assets = Debit
Liabilities
Decrease in Liabilities = Debit
Increase in Liabilities = Credit
Capital
Increase in Capital = Credit
Decrease in Capital = Debit
Expenses
Decrease in Expenses = Credit
Increase in Expenses = Debit
Income
Increase in Income = Credit
Decrease in Income = Debit
Inventory
Sales of good
Sales Revenue Increase = Credit Sales a/c
Purchases of good
Purchases Expense Increase = Debit Purchases a/c
Purchases Return
Purchases Expense Decrease = Credit Purchases Return or Return Outwards a/c
Sales Returns
Sales Revenue Decrease = Debit Sales Return or Return Inwards a/c
Discount
Cash Discounts
Discount Received
Discount Allowed
Trade Discounts