Golden Rules of Accounting
Reciever will be debit.
Giver will be Credit.
Coming assets will be debit.
Going assets will be credit.
expences & losses always debit.
Income & profit always credit.
There are three rules of accounting---
debit-what comes in
credit-what goes out
debit-benifit to receiver
credit-benifit to giver
3-nominal account(e.g. exp.&income)
debit-all exp. and losses
credit-all income and gain
Please help me with the below, I am new to the current
company and newly accountant. My question is, In Balance
sheet, Cash in Drawer is showing excess amount and I could
not tally it with sales. Please guide me how do I need to
tally CASH IN DRAWER? I don't want to reconcile. I only want
to tally. Please help.
Thanks in advance.