Using double-entry bookkeeping, asset accounts

There are five categories of nominal accounts used in

double-entry bookkeeping:

Income statements: what the company has made

Expense accounts: daily operating expenses of the
company
Asset accounts: the items that the company owns
Accounts of Liability: What the Company Owes
What is due to or by the firm owner in capital accounts.
How various accounts handle debits and credits
You must debit certain accounts and credit others in
order to enhance the balance in your business accounts.
Depending on the type of account you're handling, what
you do will vary:

You credit an income account to raise it and debit it to

lower it.
You debit an expense account to increase it and credit it
to decrease it. You debit an asset account to increase
A capital account debit indicates that the business owes
its owners less money (i.e., reduces the business's
capital), while a capital account credit indicates that the
business owes its owners more money (i.e., increases the
business's capital).

Capital
Asset
Liability