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when we debit any party in our account?
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Answer / komal bhardwaj
when we sell or provide any goods or service to our customer
or client.
| Is This Answer Correct ? | 18 Yes | 6 No |
When business sells/provides goods or services for cash,
Cash A/c has to be debited because cash is coming in. Rule
of Real A/c : Debit what comes in.
When business occurs expenses/losses, it has to be debited.
Rule of Nominal A/c : Debit all expenses & losses.
When business sells/provides goods or services on credit,
the person/firm has to be debited as the person/firm is
receiving goods or services, so the the person/firm is
receiver. Rule of Personal A/c : Debit the receiver.
| Is This Answer Correct ? | 6 Yes | 0 No |
Answer / idrees ahmad
when we provide any service to our customer or client.
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / n harini
When we provide any services to customer if any transaction
palace
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / deepak choudhary
as per the golden rules of accounting -personal account specifically states that debit is the receiver $ credit is the given which means if we sell any commodity or our services to any person then that person will be debited in our accounts as a receiver of that services...$ that person or party can also be termed as our "debtor"
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / priya
As per the accounting rule debit the receiver credit the giver so we receive goods n services from party then we gives dr. to the party a/c.
| Is This Answer Correct ? | 0 Yes | 2 No |
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Case Study: Deepak Hand tools Private Limited DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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