Chart of Normal Account Balances



Option 1:

Debit Credit Type of Account

A + - Asset

L - + Liability

I - + Income / Revenue

C - + Capital / Owners Equity

E + - Expense

Option 2:

Account Type Normal Balance

Asset Debit

Liability Credit

Shareholders Equity Credit

Revenue Credit

Expense Debit

Income Distributed Debit

Contributed Capital Credit

Option 3:

Debit (All Vowels)

Assets, Income Distributed, Expenses

Credit (All Consonants)

Liability, Shareholders Equity (Capital), Revenue, Contributed Capital

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