Question { Genpact, 47694 }

what is depreciation?

Answer

Depreciation means to depreciate i.e. to decrease the value
of asset yearly by certain amount (depending upon the
depreciation method followed by the company).
These are some of the depreciation methods:
1 Straight-line depreciation
2 Declining-Balance Method
3 Activity depreciation
4 Sum-of-Years' Digits Method
5 Units-of-Production Depreciation Method
6 Units of time depreciation
7 Group Depreciation Method
8 Composite Depreciation Method

Question { Cooperative Bank of Oromia, 25503 }

What is mean by Corporate accounts?

Answer

Company Accounts

Question { Hindalco, 13578 }

give narration of cash----a/c---Dr To cash

Answer

No such entry exist.

Question { IBM, 45713 }

what is the journal entry?
goods purchased by ram on credit for 1000 which includes
vat rs.100 in it

Answer

Purchases a/c Dr. 900
Vat a/c Dr. 100
To Creditors a/c 1000

Question { HP, 5031 }

What's Authorized share capital?

Answer

Maximum value of securities that a firm can legally issue.

Question { 41307 }

how many types of depreciation?

Answer

1 Straight-line depreciation
2 Declining-Balance Method
3 Activity depreciation
4 Sum-of-Years' Digits Method
5 Units-of-Production Depreciation Method
6 Units of time depreciation
7 Group Depreciation Method
8 Composite Depreciation Method

Question { FIC, 4718 }

What is the difference between debit and credit?

Answer

According to three golden rules of accounting:

1.Personal account: Debit the receiver
Credit the giver
2.Real account: Debit what comes in
Credit what goes out
3.Nominal account: Debit all expenses and losses
Credit all incomes and gains