Debit side of trial balance include- opening stock, Purchase, Sales return, Depreciation, All expenses(discount Allowed/Interest paid, Bad debts, insurance premium....etc.), All assets including cash,bank,debtors..etc. i.e. All assets, expenses& losses, Drawing, Prepaid expenses.
Credit side of trial balance include- Sales, Purchase Return, All Income (Discount received/ interest Received...etc),All Liabilities including capital, creditors, Bank overdraft,loan's..etc. i.e. All liabilities, Incomes & Gains,Outstanding Expenses, Capital..etc.
purchase, sales return, stock, all asset, expenses for all
business, bad debts , interest, carriage inward, carriage
outwardbank charges etc is shown debit side
sales,purchase return, reserve fund , general fund, income
received for business shown credit side
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Other Accounting General Interview Questions
We are dealing in a security (MANPOWER PROVIDER)WE HAVE A
PROBLEM AS PER OUR CLIENT'S REQUIREMENT pf and esic challan
seprately require by client's can we generate seprate
Please advice as early as possible.
M a fresher who started work in an event management firm as
an accountant recently, and i don't know the head o tail of
what to be done., worse part is its a small firm, and i have
to learn everything on my own,:( so if anyone could guide me
pllleeeeeesssssssseeeeeeee help... its really very urgent..
I'd be very grateful...