Interested to Buy Any Domain ? << Click Here >> for more details...
What is American approach? Why do we use it inspite of Modern
approach or Enlish approach ?
- 1 Answers
- 4638 Views
- HCL, I also Faced
- E-Mail Answers
Answer / shahid raza
To avoid the drawbacks of golden rule plz use this concept:-
According to American approach there are five types of
accounts:1.Assets A/c,2.Expenditure A/c,3.Capital
A/c,4.Laibilities A/c,5.Revenue A/c.
For Assets A/c & Expenditure A/c:
Whenever it increases - Debit
Whenever it decreases - Credit
For Capital A/c,Laibilities A/c and Revenue A/c:
Whenever it increase - Credit
Whenever it Decreases- Debit
I ensure all the viewers that you will like this concept.
Regarding this concept & all basic concepts of accaunting
you can ask me on :
shahid.raza37@gmail.com
mdshahid.raza@rediffmail.com
| Is This Answer Correct ? | 4 Yes | 0 No |
Journalize the Following: 2. Monthly credit sales were $ 35,000 3. Received Cash receipt payments on Receivables in the amount of $ 10,000. 4. Customers’ cheque in the amount of $ 100 bounces and was re-deposited. Book both entries. 5. Material is bought on account for £ 100,000. The exchange rate is Four pounds to One Dollar. Then, later, merchandize is paid for. The exchange rate is Five pounds to One Dollar. Book both entries in Dollar when merchandize is bought and when it was paid. 6. Materials worth $ 20,000 was purchased on account and paid for with 1% discount. Book both entries. 7. Record the purchase of Direct Material on Account in the amount of $ 20,000. Half of it was for stock and the other half for a specific job order. 8. Record the disbursement of $ 1,000 raw material to shop floor for use on specific job
Hello sir, i am assistent executive in partnership firm.i learn't tds return, sales tax return, service tax return and all accounting entry,reconciliation with customer & supplier.BRS. please guide me for more knowledgeble sectore in account. hense i reach become a good position in account sectore.
how to pass entry in tally when insured item damage. But goods purchases with in state.
Proprietor paid amount of Rs. 11060/- for car insurance. Pass Journal.
Rent is direct income or indirect income
what is mercentile system in accounting
Hi.. I am pursuing my MBA II year thrgh distance frm O.U HYD., Pls let me know any jobs...in Bank jobssssss
What Entery Should Made When Godown Rent Paid in Advance At The Time Of Agreement.Transation Is as Below * Rent Paid To XYZ (OWNER OF PROPERTY) For Running Month. * One Month Rent In Advance Tenent will Always pay rent amt 1st of every month. How can we do entry every month and How can party's a/c will due on ending every month. How can party a/c Show ADVANCE RENT. Please enter every entery including JV. With time when it is necessary.
Who owns the general ledger?
what is the difference between journal entry and ledger
What are source documents in accounting?
How to split the company in tally?
Audit 
