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accounting rules
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Answer / mani
Personal A/c.: Debit - the Receiver, Credit - the Giver.
Real A/c.: Debit - What comes in, Credit - What goes out.
Nominal A/c.: Debit - All expenses and losses
Credit - All incomes and gains
| Is This Answer Correct ? | 5 Yes | 0 No |
Answer / vishwanath k
Personal A/c: Debit What Comes in Credit What goes out
Real A/c: Debit the Receiver And Credit the Giver
Nominal A/c: Debit expences and losses Credit incomes and
Gains
| Is This Answer Correct ? | 7 Yes | 5 No |
employee contribution towards PF can be taken as expenses or not
what is the usage of Acounting standard?, what is deferred tax?, what is operating Expenses and incomes?, what is the difference between subsidary and holding company? and what is right share and right issue?
Who are the Users of Financial Information
Dear sir, I have complete B.com in march 2007, for past 4year i am doing some marketing jobs in insurance sector, now i need to change my job in accounting sector, i have heard that by doing SAP Fico there will be better opurtunity in corporate companies.
institutional investors?
What is the difference between cost accounting and financial accounting?
What is the accounting treatment for finance lease in lessee's viewpoint?
who is the pramotar?
What is the difference between consumption and production
Where we show Credit Card Account ( Credit Balance ) in Balance Sheet?
WHAT ARE THE DIFFERENCE BETWEEN RESERVES AND PROVISIONS?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
Audit 
