Question

state the rules of debit and credit of capital.​

Answer 1

Explanation:

Asset accounts normally have debit balances, while liabilities and capital normally have credit balances. Income has a normal credit balance since it increases capital . On the other hand, expenses and withdrawals decrease capital, hence they normally have debit balances.

Answer 2

Debit what comes in, Credit what goes out. Second: Debit all expenses and losses, Credit all incomes and gains.