Accounting Unit 2

An accounting device used to analyze transactions.

• chart of accounts

• credit

• debit

• normal balance

• T account

An amount recorded of the left side of a T account.

• chart of accounts

• credit

• debit

• normal balance

• T account

An amount recorded on the right side of the T account.

• chart of account

• credit

• debit

• normal balance

• T account

The side of the account that is increased.

• chart of accounts

• credit

• debit

• normal balance side

• T account

A list of accounts used by a business.

• chart of accounts

• credit

• debit

• normal balance side

• T account

When cash is received it is a

• credit

• debit

When cash is paid it is a

• credit

• debit

What is an assets normal balance side?

• debit

• credit

What is a liabilities normal balance side?

• credit

• debit

What is Capitals (owner's equity) normal balance side?

• debit

• credit