Interested to Buy Any Domain ? << Click Here >> for more details...
why debit is called debit.& why debit is on left side,why
not on right side ?
- 3 Answers
- 10102 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / madhavi.p
DEBIT IS SOMETHING WE HAVE GIVE/RETURN, I.E., ACCOUNTS
PROCEDURE AND RULE CANNOT BE CHANGED
| Is This Answer Correct ? | 9 Yes | 8 No |
Answer / akshay lddha
These terms have been derived from Latin Word Deberie And Credere Which means Giving and Taking respectively that is why we use Debit and credit in accounting and it is on left side because of significance of old accounting method of Bahi khata in which whenever we give some amount to any person it was written at left side.
| Is This Answer Correct ? | 1 Yes | 0 No |
please explain me, if I pay salary advance 3000 to satish then how to record entry, for payment, journal, adjustment if salary is 1500/month please send me correct entry shortly
2 Answers AAI Airports Authority Of India,
total assets are equal to total liabilities in final accounts ?why?
what is the basic difference between pooling of interest method and purchase method in amalgamation
Is financial accounting necessary?
what is liability? give some entry
What is Fixed Assets? How many depreciation types are there? How to apply depreciation on assets in a year?
Re: one customer visit the showroom of phones and purchased the phone of Rs 750 and gave the 1000 rupees note the showroom executive didn't have the change so he take the change from next to his showroom's shop then he deliver the phone to customer with the change of rs 250.and customer went with both after sometime the shop owner of next to showroom who gave the change of Rs 1000 with angry and told the showroom executive that the note you give it to me is fake! so showroom executive gave him Rs1000 to him.so my(question) is how much the showroom executive faced the loss on this transaction. (the answer is neither 750,1000,1250,1500,1750 nor 2000) please reply the answer because its urgent with the explanation of u'r answer thankyou.
Is depreciation a source of finance ?
From the following particulars taken on 31 December, 1995, you are required to prepare a bank reconciliation statement to reconcile the bank balance shown in the Cash Book with that shown in the Pass Book: (i) Balance as per Pass Book on 31 December, 1995, O/D Rs 1,027. (ii) Four cheques drawn on 31 December but not cleared till January are as follows: Rs 12; Rs 1,021; Rs 98; and Rs 113. (iii) Interest on O/D not entered in Cash Book Rs 51. (iv) Three cheques received on 30 December and entered in the bank column of the Cash Book but not lodged in bank for collection till 3 January next: Rs 1,160; Rs 2,100; and Rs 2,080. (v) Cost of cheque book, Pass Book, etc; Rs 1.50 entered twice erroneously in Cash Book in November. (vi) A Bill Receivable for Rs 250 due on 29 December, 1995 was passed to the bank for collection on 28 December, 1990 and was entered in Cash Book forthwith whereas the proceeds were credited in the Pass Book only in January following. (vii) Chamber of Commerce subscription Rs 10 paid by bank on 1 December, 1990 had not been entered in the Cash Book. (viii) Bank charges of Rs 5 had been debited in the pass book twice erroneously. . . . plz be fast
Tell me what is an over accrual?
Explain things that fall under intangible asset?
How bank reconciliation statement is prepared
Audit 
