Accounting Categories (Debit and Credit Balances) - Financial Accounting (FAC)

Assets: Equity:

Cash - (Debit Balance) Share Capital Ordinary - (Credit Balance)
Accounts Receivable - (Debit Balance) Retained Earnings - (Credit Balance)
Supplies - (Debit Balance)
Prepaid Insurance - (Debit Balance) Income Statement Accounts:
Prepaid Rent - (Debit Balance)
Equipment - (Debit Balance) Revenue
Inventory - (Debit Balance) Service Revenue - (Credit Balance)
Accumulated Depreciation - Contra-Asset (Credit Sales Revenue - (Credit Balance)
Balance) Sales Returns and Allowances - Contra-Revenue
(Debit Balance)
Liabilities: Sales Discount - Contra-Revenue (Debit Balance)

Accounts Payable - (Credit Balance) Expenses
Notes Payable - (Credit Balance) Cost of Goods Sold - (Debit Balance)
Interest Payable - (Credit Balance) Supplies Expenses - (Debit Balance)
Income Taxes Payable - (Credit Balance) Depreciation Expenses - (Debit Balance)
Salaries and Wages Payable - (Credit Balance) Insurance Expenses - (Debit Balance)
Unearned Service Revenue - (Credit Balance) Salaries and Wages Expenses - (Debit Balance)
Advertising Expense - (Debit Balance)
Income Tax Expense - (Debit Balance)
Interest Expense - (Debit Balance)
Rent Expense - (Debit Balance)
Freight-Out (Delivery Expense) - (Debit Balance)