Debit: Debit is a type of accounting entry in the double entry book keeping system. A debit entry may result in either of the following results: Increase in an expense. Increase in the value of an asset. Decrease in an income. Decrease in the value of equity or a liability. Credit: Credit is a type of accounting entry in the double entry book keeping system. A credit entry may result in either of the following results: Increase in an income. Increase in the value of equity or a liability. Decrease in an expense. Decrease in the value of an asset. To indicate: Debit-credit analysis for the transactions.

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Chapter 2, Problem 2.4E

To determine

Debit: Debit is a type of accounting entry in the double entry book keeping system. A debit entry may result in either of the following results:

Increase in an expense.

Increase in the value of an asset.

Decrease in an income.

Decrease in the value of equity or a liability.

Credit: Credit is a type of accounting entry in the double entry book keeping system. A credit entry may result in either of the following results:

Increase in an income.

Increase in the value of equity or a liability.

Decrease in an expense.

Decrease in the value of an asset.

To indicate: Debit-credit analysis for the transactions.

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