Answer Posted / pradeep
Personal A/c : Debit all receible
: Credit All Payable
Real a/c Whats ever comes is Dr.
what ever is goes is Cr.
Nominal A/c Dr. All typs of Expenses
Cr. All typs of Income
this is also call the golden rule of Accounting.
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
How do you set the increment point in appraisal of salaries. It becomes so difficult for the employer to hear again and again about increment
What Settlement details are required on the delivery instruction slip?
How do the standards assist the users of financial report?
explain the financialand economic meaning of investment?
Expand---------MRDT
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
How i pass the share holders capital entry in Tally? How to set this option in Tally?
after directing tally 9 to calculate interest as per 30 day option basis on a loan account.........,it still calculates interest as per calender month when checked on to display>statements of accounts>interest payable in tally 9 ...where is the error?? how to correct the function.
Expand-------BANT
what is data entry? what is report generation ?in accounting how it is used .
what is Accounting Standers?
hai everybody... wish u all the best for those who got selected in sbi associate bank is anyone from coimbatore region attending on 27th may 2009.
HOW MUCH LATEST ACCOUNTING STANDARDS , TDS RATE , INCOME TAX RATE, EXCISE , VAT , SERVICE TAX & FBT RATES? (PLS. ARRANGE TO SEND THE RATES FOR ABOVE IN CATAGORY & LIMIT WISE)
Expand-------CSNA
Hi, I would like to check if my understanding is correct I have a negative amount for provision of income tax in my balance sheet from my previous financial year.What are the accounting treatments for income tax paid and then refunded to you for the current year? Is this correct? For payment Dr provision of income tax cr bank For tax refund Cr provision of income tax Dr bank Do I need to input anything in income tax expense acct?