wat is the golden rule of accounting
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Answer / shreeram
1) Debit always equals Credit
2) Increases do not necessarily equal decreases
3) Assest - liabilities= owner's fund( accounting equation)
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / durgaprasad m
Double accounting system.
Every debit corresponds to credit
| Is This Answer Correct ? | 4 Yes | 10 No |
Here is a question i was asked below is the scenario need to enter journal entrries for both accounting system Cash and Accrual :- 1) Landlord A/c 2) Tenant A/c 3) Bills Receivable A/c 4) Cash A/c 5) Bank A/c Situation:- 1) Bill is created. 2) Bill is sen to the tenant, journal entry =? 3) Cash is received from the tenant, journal entry=? 5) If cheque is received from the tenant, journal entry=? 6) Receipt is created. 5) Receipt is sent to the tenat, journal entry=? Its urgent, please help.
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