Answer Posted / mahmmed rasheed
personal account,
debit the receiver
credit the giver
real account
debit what comes in
credit what goes out
nominal account,
debit all expenses and losses
credit all incomes and gains
since these three rules are essential to post entries.
thats why called as golden rules of accounting.
Is This Answer Correct ? | 28 Yes | 0 No |
Post New Answer View All Answers
purchase of Rs 1000 were rejected and returned,however vendor returned Rs 800 and balance Rs 200 is charged to sundry exp A/c
What is an adjusting journal entry?
What was your most complicated sales cycle in past positions?
Let me know the liability positions of Partners
why are accounting firms needed?
Explain me fair value accounting?
in tally ,professional fees head will come under which income group ,direct or indirect if the business of owner is designing work or related to creativity
If assume we paid 50/- as an advance for worth or 100/- goods, but our supplier sent only up to 25/- worth of goods. Know my question is that we want to close the transaction now and how it possible? What about vat like tax setups in ap and ar? What about the sweep command in ap?
Tell me how much statistics knowledge is necessary or required in accounting?
what is "goodwill" reserve and surplus and reserve with example
What qualification do you need to become an accounting professional?
what TYPE OF INVOICE SHOULD RAISE TO C&F agent ?
What is royalty reserve?
sir i am working in construction company.we have more than one projects.i enter the attendance projectwise in payroll.if payroll autofill i want project wise salaries not overall
What is bond ? What is capital market?