There are Three golden rules in accountings
Debit the receiver, credit the giver
Debit what comes in., Credit what goes out
Debit all expenses and losses,credit all incomes and
Please Help Members By Posting Answers For Below Questions
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WHY EXCISE DUTY IS DEDUCTED FROM THE GROSS SALES TO ARRIVE
NET SALES? WHY SALES TAX IS NOT DEDUCTED FROM SALES TO
ARRIVE NET SALES?
Rs. 23.50 ( Rupes twenty three & paise fifty only)
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Why in a cash book receipts are debited while the same if
received in our books recepits are credited.
Why does cash book have a rule to debit receipts and credit
For example if am paying the cash that i owe the company or
firm i debit in my books(cash) on the debit side and should
credit in the cash book but i cant do that cash book take
receipts on the debit side as per the general . please clarify
many thanx in advance
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hdn Systems Pvt. Ltd., manufactures a consumer durable
which passes through two processes M and N. From the
following details prepare necessary process ledger accounts
bringing out clearly the cost of the product at each stage.
Process ‘M’ Process ‘N’
Materials (Rs.) 30,000 3,000
Labour (Rs.) 10,000 12,000
Overheads (Rs.) 7,000 8,600
Input (units) 20,000 17,500
Normal loss 10% 4%
Scrap value of loss (per unit) Re. 1.00 Rs. 2.00
There is no opening or closing W-I-P or stock at processes.
Final output from the process ‘N’ was 17,000 units
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