What is double entry book keeping?
- 2 Answers
- 3861 Views
- GMC, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / vkskumar171
DOUBLE ENTRY BOOK KEEPING MEANS THAN WE ARE DOING JOURNAL
ENTRIE THAN TWO SIDE EFFECT DR SIDE AND CR
EXAMPLE:
BANK A/C 500
TO CASH A/C 500
THIS ENTRIE SHOW BANK IS DR AND CASH IN CREDIT
BANK IS INCREASE
AND CASH IS DECREASE
| Is This Answer Correct ? | 12 Yes | 1 No |
Answer / akash jain
DOUBLE ENTRY BOOK KEEPING MEANS An accounting technique which records each transaction as both a credit and a debit. Credit entries represent the sources of financing, and the debit entries represent the uses of that financing. Since each credit has one or more corresponding debits (and vice versa), the system of double entry bookkeeping always leads to a set of balanced ledger credit and debit accounts. Selected entries from these ledger balances are then used to prepare the income statement.
| Is This Answer Correct ? | 3 Yes | 0 No |
Expand------ARN
My BASIC Salary is 18,000
0 Answers Tonia Liquor Industries,
Truck # 3 has a list price of 16000. It is acquired in exchange for a computer system that company A caries in its inventory. The computer system cost 12000 and is normally sold by company A for 15200. Pass the journal for the same.
what is the full form of esi in payroll what is calculation in payroll
what will be the entry if advertisement suspence a/c is on asset side of balance sheet?
karthiks due of Rs 35000/- was settled in full with a cheque of rs 31500/-Pass entry
what is the distinction between Bill of Exchange and a Cheque
What is difference between profit, revenue?
what is the difference between a company's balance sheet & a bank's balance sheet.what is the negotiable instrument act . is cheque a negotiable instrument.
4 Answers ESIC, State Bank Of India SBI,
Is Telecom Infrastructure service provider company providing a Mobile Phone Tower to the operator for rental basis liable to pay VAT or not?????
What are the different type of bank accounts maintained in tally
what do u mean by brs
Audit 
