Interested to Buy Any Domain ? << Click Here >> for more details...
what is meant by debit and credit
- 22 Answers
- 45652 Views
- DELL, i Tech, IBM, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / muni krishnan .a
As per Accounting Priciples,
1.Personal a/c :Debit , What comes in
: Credit ,What goes out.
2.Real A/c : Debit ,the Receiver
: credit ,the Giver
3.Nominal A/c : Debit, all Expenses & Losses
: Credet ,all INcomes & Gains
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / madhusudan chauhan
debit word origin from the debt it maens that u r making
any company or person in debt.
if u are giving money to any person in this condition he is
debtors ex. you paid 100 rs to 'b' so b is debit in your
books
and credit means any company gives the money just like 'a'
gives u money so a credit in the books
give money to 'a'= a dr.
come money from 'a'= a cr.
that's a simple funda
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / p.m.krishna reddy
Debit means what is receiving aspect
Credit means what is giving aspect
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / ramu
Debit means simply we can say that left hand side part of an account is debit where as credit is right hand side part of an account
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / anagha r datar
As per Accounting Principles,
1.Personal a/c : Debit ,the Receiver
: credit ,the Giver
2.Real A/c : Debit ,What comes In
: credit ,What goes Out
3.Nominal A/c : Debit, all Expenses & Losses
: Credit ,all INcomes & Gains
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / avinash
DEBIT,WHAT COMES IN. .RECEIVING AND CREDIT,WHAT GOES OUT. . GIVING
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / vamshi m
receiving aspect or incoming aspect comes under debit aspect
giving aspect or outgoing aspect comes under credit aspect
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pattan mohammad rafi
According to personal account
DEBIT THE RECEIVER
CREDIT THE GIVER
According to real account
DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
According to nominal account
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL GAINS AND PROFITS
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / anil kumar goud
debit is left,coms in, recieving
credit is right, goes out,giving
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / babitha
debit:- expenses,losses credit:- incomes,revenues
| Is This Answer Correct ? | 11 Yes | 14 No |
Give me solved example of bank book and cash book
Please tell me the process of Selction of Junior Research Associate in Capitaliq(Intervie rounds&written test)
What is Petty Cash Book?
Expand P A N
STAte clearly the domain and range of random variable
capital expenditure , revenue expenditure
hi to all i have also cleared sbi exam and my interview is on 26th may 2009.can any one help to prepare for interview
What is TDS entry for a Firm? as previous years TDS is shown as opening balance in the books of the firm in current year and i don,t want in C.Y as its claimed in the Computation of Previous Years???? So what is the A/C ing entry
what will be a journal entry when we received a teliphone bill from air tel and payment of bill.
what is current ratio and how it is calculated
Q5 Prepare a Balance sheet from the following particulars: Gross profit =Rs.80,000 Gross profit to cost of goods sold =1/3 Stock velocity =6 times Opening stock =Rs.36,000 Accounts receivable velocity =72 days (year=360 days) Current assets=Rs.1,50,000 Account payable velocity=90 days Bills receivable =Rs.20,000 Bills payable=Rs.5,000 Fixed assets turnover ratio (on cost of goods sod)=8 times
Invoice for Rs 492650/- is inclusive of 14.5% VAT. Pl calculate Basic Rate for the material.
Audit 
