what is the rule of debit and credit.
Plz detail answer.
thankful to you
Answers were Sorted based on User's Feedback
IN PERSONAL ACCOUNT
DEBIT THE RECEIVER
CREDIT THE GIVIR
IN REAL ACCOUNT
DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
IN NOMINA ACCOUNT
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS
Is This Answer Correct ? | 17 Yes | 1 No |
Answer / sandeep kumar
THREE RULE OF DR. AND CR.
(1)when assests are increased...... Dr.
when assests are decreased...... Cr.
(2)when liab. are increased...... Cr.
when liab. are decreased...... Dr
(3)all expenses ............. Dr.
all income ................ Cr.
Is This Answer Correct ? | 5 Yes | 1 No |
Answer / priyanka
RULES OF DEBIT AND CREDIT
1. IN CASE OF PERSONAL ACCOUNT(these are the accounts in
the names of persons eg K SONS & COMPANY)
DR THE RECEIVER
CR THE GIVER
2. IN CASE OF REAL ACCOUNT(these account are based on
amount which we get by selling or purchase of fixed asset)
DR WHAT COMES IN
CR WHAT GOES OUT
3. IN CASE OF NOMINAL ACCOUNT(these account based on
expenses eg.telephone expenses etc)
DR ALL EXPENSES AND LOSSES
CR ALL INCOMES AND GAINS
Is This Answer Correct ? | 4 Yes | 1 No |
Answer / pardeep kumar
DR. means is "Due To That"
CR. maens is "Due For That"
Is This Answer Correct ? | 5 Yes | 3 No |
Answer / chandra sekhar reddy
IN case of Personal accounts Dr is the reciever and Cr is
the giver
In case of real accounts Dr is the what comes in and Cr is
the what goes out.
In case of nominal accounts expenses are debited and incomes
are credited.
Is This Answer Correct ? | 3 Yes | 1 No |
Answer / sandhya
Every transaction will have two aspects i.e., debit and
credit aspect. Every debit is equal to its corresponding
credit. Journal entry is passed by following the rule of
debit and credit, according to which debit the receiving
aspect and credit the giving aspect.
Is This Answer Correct ? | 3 Yes | 1 No |
all incomes are credit and all expenses are debit and
whatever we are getting is dr. and whatever is going is
called cr. thats it
Is This Answer Correct ? | 0 Yes | 2 No |
Give three examples of P/V ratio?
Which Entries comes in Receipts & which entries in Payments,any payment & Income is received through cheque that entries will appear in it or we have to pass it in journal.
define cheque
What is the difference between cash and mercantile system of accounting? Which according to you is a better system & why?
What is the formula of Debt Equity Ratio? Also define its importance in a firm.
tell me about share?
Iam selected for final round of interview in IDBI bank for asst. manager post. Can any one help me in knowing what kind of questions will be asked in the interview and how should i prepair?
Expand H U F
What do mean by sales ledger and sales account
Raju put labour charges bill for Rs 65000/- You are directed to deduct 5% security deposit and 1.15% TDS from the bill. Pass journal entry for it
What is margin of safety?
hi all plz where interveiws happening in hyd regarding accounting and finance.....plz post here....