Examlex
Ben is trying to solve a crossword puzzle in the local newspaper because he enjoys working through all the clues and coming up with the correct answers.This is an example of:
Debits
The left side of an accounting ledger where increases in expenses, assets, or decreases in liabilities and equities are recorded.
Credits
Entries in the accounting system that represent an increase in liabilities or equity or a reduction in assets, commonly associated with income and receipts.
Capital
Financial assets or the financial value of assets, such as funds held in deposit accounts or funds obtained from special financing sources.
Normal Balance
The side of the accounting equation on which increases to an account are recorded, typically debit for assets and expenses, and credit for liabilities, equity, and revenue.
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