Answer / b. mohamed hanifa

REAL A/C :DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

PERSONAL A/C :DEBIT THE RECIVER
CREDIT THE GIVER

NOMINAL A/C :DEBIT ALL EXPANSES AND LOSSES
CREDIT ALL INCOME AND GAINS

Answer / padmini

Personal A/c: DEBIT THE RECEIVER
CREDIT THE GIVER
Real A/c: DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
Nominal A/c: DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS

Answer / navpreet kaur dhillon

REAL A/C: DR:WHAT GOES OUT
CR:WHAT COMES IN
PERSONAL A/C:DEBIT THE GIVER
CREDIT THE RECIEVER
NOMINAL A/C: DEBIT ALL EXPENCES & LOSSES
CREDIT ALL INCOME & GAIN

I WANT TO ASK ALL THAT IF DEBIT MEANS WHAT COMES IN THEN
HOW CAN IT BECOME EXPENSES & LOSSES IN NOMINAL A/C. PLEASE
JUST CORRECT ME BECAUSE I AM A NEW LEARNER

Answer / b.hanifa

REAL A/C :DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

PERSONAL A/C :DEBIT THE RECIVER
CREDIT THE GIVER

NOMINAL A/C :DEBIT ALL EXPANSES AND LOSSES
CREDIT ALL INCOME AND GAIN

Answer / shafi 9760366175

Personal A/c:Debit the receiver
Credit the giver
Real A/c: Debit what comes in
Credit what goes out
Nominal A/c:debit all expences and losses
Credit all incomes and gains

Answer / babul kumar singh

Accounting is mainly classified under three categories
which are below,and For each and every transaction
there will be two aspects,ie,. Debit and credit.

Nominal Accounting: Debit all Expenses and Losses
Credit all Incomes and Gains
(Its related to incomes and expenditure (both Direct &
Indirect))

Personal Accounting: Debit the Receiver
Credit the Giver
(Its is related to person, firm etc....................)



Real Accounting: Debit What comes in
Credit what goes out.
(Its related to goods, cash etc.......................)

Answer / p. dhanasekar

Real Account
Personal Account
Nominal Account
Representative Personal Account
Valuation Accounting

Answer / macchindra sambhaji kadlag

Personal A/c-
Debit the receiver
Credit the giver

Real A/c-
Debit what comes in
Credit what goes out

Nominal A/c-
Debit all expences and losses
Credit all incomes and gains

Answer / valli r

Personal A/c: Debit the receiver
Credit the Giver

Real A/C : Dr. What come in
Cr. What goes out

Nominal A/C : Dr. All expense & loss
Cr. All incomes & gains

Answer / senthamil kumaran

Personal Account: Debit the receiver
credit the giver

Nominal Account : Debit all expenses and losses
credit all incomes and gains

Real Account : what comes in Debit
what goes out credit

Can anybody send me Interview questions & Answers to me IN Accounts & finance my Mail ID - virupaksha_krt@rediffmail.com

0 Answers  

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State why you feel you are suitable candidate for the post applied

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2. You are required to prepare a Profit & Loss Account for the year ending 31st December, 2007 and the Balance Sheet on that date. The Trial Balance of XYZ Ltd. for the year ended 31st December 2007 is as follows:- Trial Balance of XYZ Ltd. as on 31st Dec. 2007 Debit Balances Rs. Credit Balances Rs. Materials used 3,50,000 Sales(including 2% Sales tax) 9,18,000 Cost of Labour 1,50,000 Sale of Scrap 100 Stock, finished and work in process on 31st December, 2006 50,000 Rent received 2,000 Wages : Factory Staff 15,000 Discounts 2,750 Directors Remuneration 50,000 Recovered against fire claim re : Stock 5,000 Salaries : Clerical Staff 75,000 Capital : Equity 25,000 Insurances : Workmen’s Compensation 1,500 Preference- 9% 8,000 General, fire etc. 2,000 Creditors 1,56,000 Directors’ Life Insurance 1,500 Provision for Taxation 1,05,000 Maintenance : Buildings 1,000 Profit & Loss Account 13,750 Plant and Machinery 12,500 Rent and Rates of premises and hire of plant 20,000 Heat, Light and Power 15,000 Experimental and Laboratory Expenses 10,000 Canteen Expenses 5,000 Staff Welfare expenses 2,500 Motor Expenses 12,500 Professional Charges 2,800 Postage and Telephone 3,500 Books, Printing and Stationery 11,000 Sundry expenses 10,000 Carriage and Packing on Sales 3,300 Discounts 5,000 Debtors 1,78,000 Freehold Property 50,000 Plant and Machinery 12,500 Fixtures and Fittings – Offices 3,500 Office machinery and Equipment 3,000 Motor Car and Van 6,500 Stock of materials on 31st Dec. 2007 1,20,000 Bank 38,000 Sales Tax Paid 15,000 12,35,600 12,35,600 Depreciation is to be provided at the following rates: Plant and Machinery 10% Fixture and Fittings 05% Office Machinery, etc. 10% Motor Vans and Cars 25% The stock of finished goods and work in progress as on 31st December, 2007 was Rs. 35,000. Provide for preference dividend and ordinary dividend at 10%. The total taxation liability is estimated at Rs.1,50,000 of which Rs. 75,000 relates to the current year. Debtors include Rs. 10,000 deposited as security against government contracts. The Works Manager is paid partly by salary and partly by a commission; he is entitled to a commission of 5% on the amount by which the surplus in the factory cost exceeds 20% of the sales for the period. Charge the commission if any in the Profit and Loss Account.

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i have one question.when using fbra for reset clearing,message exchange rate different was posted and i have do reversalon the same time using fb08 but unfortunately i' m not authorize to use this transaction.my collegue only have.so how should i do.please advise

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Why assets and expenses debited

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