Answer Posted / poonam patel

Ther is three basic rules in accounting Transaction
1)Personal A/C
2)Real A/C
3)Nominal A/C

1)Personal A/C:- This A/C represents a personal firm’s
company society clubs or any others institution with whom
the business deals are called as personal A/C.

Rule: - “Debit the receiver”
“Credit the giver”

2)Real A/C:- This A/c which represent such as
building, furniture, machinery, Cash A/c are called
real A/c.

Rule: - “Debit what comes in,
“Credit what goes our”
.
3)Nominal A/c:- This A/c are representing all types of
expenses and losses and incomes and such as salaries,
wages, rent, discount as called as nominal A/c.

Rule: - “Debit all the expenses and losses,
“Credit all the incomes and gains.”

Mention some of the major contributions made by you in your present and previous jobs

6158

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impairment & Amortisation Means

2009

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EXPAND______________ICT

1975

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Expand---------PDCB

2008

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WHEN IN ADJUST. GIVEN THAT THERE IS VALUE OF RS...., OBSOLESCENCE STOCK INCLUDED IN CLOSING STOCK RS.......,WHAT IS THE PROPER WAY TO SHOW IN INCOME STATEMENT AND POSITION STATEMENT.

2167

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Can anyone expain.. why the sensex is in points. And why the ratios is calculated. In what way its uesfull to the organisations

2228

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while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

2122

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In Pricing the gallons of petrol sold,service station 'A' follows the first-in-first-out method,while service station'B'follows last-in-first-out method.On 1st January both has the same quantity in stock viz.6,000 gallons at Rs.26 per gallon.During the month,each station recieved additional supplies of 6,000 gallons at Rs.27.50 per gallon.Sales for each of these two stations,during the month,were 8,800 gallons at Rs.29 per gallon. Determine for each service station,profit earned during the month and value of the petrol in stock at close of the month.

4253

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what is futures and options?

2198

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Expand----------MTSC

2193

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plz send me hsbs finance questions asked in the interview ans appitude also

2887

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What is meant by retiring Bill

2006

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What is the complete role of a Process executive in Accounts Payable Process ? Please anyone who is an expert in the process answer my question. A reply would help me a lot.

1143

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what is duties and responsibilities for clark working in sbi

2255

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Transfer nett profit of Rs 325000/- to Reserves and Surplus

2439

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