Owners Equity

• Owners equity is the proportion of total value of a company's assets that can be claimed by its owner
• Owners equity decreases when it is on the debit side
• Owners Equity increases when it is on the credit side
• Capital is always a credit
• Drawings is always a debit
• Income is always a credit
• Expense is always a debit
• Sales is Income with increase equity so it is a credit
• Current Income is Income with increase equity so it is a credit
• Donations is Income with increase equity so it is a credit
• Rent Income is Income with increase equity so it is a credit
• Interest on fixed deposit is Income with increase equity so it is a credit
• Commission Income is Income with increase equity so it is a credit
• Cost of sales is an expensive so it is a debit
• Bank Charges is an expensive so it is a debit
• Donations is an expensive so it is a debit
• Repairs is an expensive so it is a debit
• Wages is an expensive so it is a debit
• Matieral Cost is an expensive so it is a debit
• Insurance is an expensive so it is a debit
• Stationery is an expensive so it is a debit
• Telephone is an expensive so it is a debit
• Rates is an expensive so it is a debit
• Packing Matierals is an expensive so it is a debit
• Rent expense is an expensive so it is a debit