What is an Accounting definition of "Debit" & "Credit"?

 In Double-Entry Accounting Systems Generally these types of accounts are increased with a debit:

1. Dividends (Draws)
2. Expenses
3. Assets
4. Losses

 You might think of D - E - A - L when recalling the accounts that are increased with a debit.

 And generally these types of accounts are increased with a credit:

1.  Gains
2. Income
3. Revenues
4. Liabilities
5. Stockholders (Owner's) Equity 

You might think of G - I - R - L - S when recalling the accounts that are increased with a credit.

 To decrease an account you do the opposite of what was done to increase the account. For example, an asset account is increased with a debit. Therefore it is decreased with a credit.

AGREE WITH MR 

 Mobeen Tahir  

THANK YOU 

To increase in an account is debit and the decrease in an account is credit in generally, but the rule is : -

Increase in Assets & Expenses would be Debit        and

Increase in Liabilities, Capital & Revenue would be Credit      whereas

the other side would be wise-versa i.e decrease in Assets & Expenses would be Credit        and decrease in Liabilities, Capital & Revenue would be Debit.

1. When accounting for these transactions, we record numbers in two accounts, where the debit column is on the left and the credit column is on the right. A debit is an accounting entry that either increases an asset or expense account, or decreases a liability or equity account.

Debit Defination:

An accounting entry that results in either an increase in assets or a decrease in liabilities on a company's balance sheet or in your bank account. A debit on an accounting entry will have opposite effects on the balance depending on whether it is done to assets or liabilities, with a debit to assets indicating an increase and vice versa for liabilities.

Credit Defnation

An accounting entry that either decreases assets or increases liabilities and equity on the company's balance sheet. On the company's income statement, a debit will reduce net income, while a credit will increase net income.