Interested to Buy Any Domain ? << Click Here >> for more details...
what is debit and credit in accounting
- 3 Answers
- 6252 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / nagesh
Debit is benefit receiver and credit is benefit giver
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / nida
what comes in is treated debit and what goes out is treated
credit in accounting.for example
purchased furniture for cash, we record it
what comes in(furniture)dr and what goes out (cash)
cr furniture a/c dr
cash a/c cr
to write any account at the right side is credit and to
write any account at left side is called debit in accounting
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / babhu kanchupalli
In business....every financial transaction have two aspects...that what we called double entry system of accounting.in that two aspects one is "Debit" and another one is "Credit". here arise the doubt,that what is debit and what is credit.....i.e
1.Receiving aspect in a transaction is called Debit.
2.Giving aspect in a transaction is called as Credit.
Then we can apply the Golden rules of accounting for each transaction to record....based on that we came to know which aspect we have to give debit or credit in a transaction.
| Is This Answer Correct ? | 0 Yes | 0 No |
what are contingent liabilities?
Tell us what is your proudest accomplishment?
vijay sir, Pls, tell me what's the difference of school fees and tution's fees.pls. explain briefly.
step by step TDS voucher entry in Tally 9 Please
Hi guys, in my company, have a recruitment for junior accounts executive(2 to 4 years only).. For 10-15 positions, if any body interest pls send your resume to my mail id... Remember, any body from manufacture or construction field 1st preference...Definitely i will help u.Send ur resume to "mukeshreddy37@gmail.Com" immediately
What is an ERP?
what is the minimum & maximum amount paid by company per day
What will be a entry for TDS deducted on Salaries, Directors Remuneration and Rent.
Why is it necessary to prepare Asset Disposal Account?
Is there any circumstance where an accountant is allowed to depart from accounting standards while preparing financial statements? If yes explain why, if no explain no.
What is the TDS rate for Salary???????
how to prepare brs statement for company in tally
Audit 
