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Golden rule of Trial Balance

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(Querist)
02 February 2025 whether is it true
Debit Assets, Drawing and expenses
Credit Equity, Liabilities and income
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Dhirajlal Rambhia

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Dhirajlal Rambhia (Expert)
02 February 2025 Yes, you are right! In accounting, this principle follows the double-entry system, where every transaction affects at least two accounts.
Debit (Dr.) affects Assets, Drawing, and Expenses:

Credit (Cr.) affects Equity, Liabilities, and Income:
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