wat is the golden rule of accounting
Answer Posted / v sakkthivel
Personal A/c- (Name of person and company)
Debit the receiver and credit the givert
Real/property account: assets and property account
Debit what comes in and credit what goes out
Nominal account: any type of income and gain(either
intrest, discount received from any sources)
Any type of expenses either may be intrest or discount
allowed like wise)
Debit all expenses and losses
credit all income and gain
Is This Answer Correct ? | 0 Yes | 1 No |
Post New Answer View All Answers
what is the entry of credit card received excess amount entry in tally and their under group names
What are the four classifications of bad and doubtful debts as per the context of the bank?
What is the use of form D in sale tax
pass the journal as wellas ledger entries off the foll 1st jan :> started businress with cash rs 1,20,000 & goods worth rs 60,000. 2nd jan > cash purchases rs 50,000. 4th jan >cash sales rs 40,000. 6th jan > purchase good's from sonali on credit worth rs 30,000 at 10 % trade discount. 8th jan> sold sood's to komal on credit rs 20,000 at 10% trade discount. 10th jan > paid rent by a cheque rs 50,000. 12th jan > good's worth rs 4,000 lossed by fire. 14th jan > good's worth rs 3,000 withdrawn from business for personal use. 16th jan > good's worth rs 2,000 distributed as free samples. 18th jan > good's worth rs 1,000 exchange for furniture.
I am a Leaving Cert Student. From Solutions to exam questions etc. I know what to do with the following adjustment but I cannot explain why. A thypical Adjustment is: A building is acquired for €60000 plus VAT at 10%. The amount paid to the Vendor was entered in the Buildings Account. No entry made in the VAT account. Could you explain why the VAT amount is deducted from the VAT amount in the TB? And why it is sometimes an Asset in the BS. Thank you, Mary
i am trying to set up a recurring reversing journal in Oracle GL, my problem is i have income balance of £30k that i only want to show 1/12th in a period over 12 months. can any one help me set it up . i want to show P01-13 opening balance £30k less £27500 P02-13 reverse P01-13 journal P02-13 opening balance £30k less £25000 etc. or does anyone know of another way it can be done automatically every month.
give me examples of the accounting reports you have prepared
What is batch input? why we use batch input session in SAP(FICO)?
What is mis report , how to prepare mis report for general ledger?
Why some asset accounts have a credit balance?
Why did you select accounting as your profession?
What is a ledger? What do you mean by ledger posting?
what is ment by suspence account and dummy account
sir i want to know that where we taken entry of sals return in excise in manufecturing unit tell me .
Explain me what is tally accounting?