Golden rule of Trial Balance
This query is : Resolved
02 February 2025
whether is it true
Debit Assets, Drawing and expenses
Credit Equity, Liabilities and income
Debit Assets, Drawing and expenses
Credit Equity, Liabilities and income
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:
Debit (Dr.) affects Assets, Drawing, and Expenses:
Credit (Cr.) affects Equity, Liabilities, and Income:
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