Debit & Credit Personal Finance Manager 2 1 1

1. Debit & Credit Personal Finance Manager 2 1 1
2. Debit & Credit Personal Finance Manager 2 1 13
3. Debit Card
4. Debit & Credit Personal Finance Manager 2 1 18

Step 1: Pick ONE account that is affected by this transaction

Debit & Credit Personal Finance Manager 2 1 1

Step 2: Is this account you picked in Step 1 INCREASING or DECREASING?

Step 3: What type of account is this?

• Credit Manager Resume Examples. Credit Managers are in charge of the credit granting process and their duties include: assessing the creditworthiness of customers, minimizing debt losses, increasing sales, investigating credit applications, managing corporate financing programs, and maintaining the corporate credit policy.
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CHOICES

• Assets – something that has future economic benefit – Cash, Accounts Receivable, Inventory, Prepaid Insurance, Equipment, etc.
• Liabilities – a debt owed to others – Accounts Payable, Unearned Revenue, Notes Payable, Bonds Payable, Long-term Mortgage Payable
• Equity – Common Stock, Retained Earnings
• Revenues – Sales Revenue, Service Revenue, Sales
• Expenses – Cost of Goods Sold, Salaries Expense, Insurance Expense
• Dividends – these are dividends that the company has declared and has, or will, pay to its stockholders

Step 4: Combine your answer from Step 2 and Step 3 to find whether you DEBIT or CREDIT the account you identified in Step 1

Debit & Credit Personal Finance Manager 2 1 13

Repeat Steps 1 through 4 for the OTHER account in this transaction

Remember:

Debit Card

• Total debits in a journal entry (transaction) must equal the total credits in that transaction
• You need at least one debit and one credit for every journal entry
• Debits are on the left, credits are on the right

Debit & Credit Personal Finance Manager 2 1 18

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