what does debit and credit mean in accounting and what is
its underlying concept and its treatment.
in the cash book dr means receipt nad credit means payment?
is it correct?
Answer Posted / sitaram sawant
There are three fundamental a/cting principles, which are
as follows:
1. debit the receiver and credit the giver
2. debit wht comes in and credit wht goes out
3. debit all losses and credit all gains
The given statement is correct.
in our cash book when we received money we Dr. cash or bank
a/c and vice-versa. But as per bank book it shows reverse
blalance. Means if u hv 5000/- in ur bank, it will show as
Rs.5000/- Cr. Becoz it is as per bank record.
PLz give me reply on this statement
thks
Is This Answer Correct ? | 26 Yes | 7 No |
Post New Answer View All Answers
why are you selecting for the profitbulity analysis costing based& active based
Explain about Fixed capital
In order to comply with the matching principle, adjustment entries are made at the preparation of ----------
Country-Western songs emphasize three basic themes: love, prison and trucks. A survey or the local Country-Western radio station produced the following data: 12 songs about a truck driver who is in love while in prison 2 about people in prison who are not in love and do not drive trucks 8 about people who are out of prison, are not in love, and do not drive a truck 13 about a prisoner in love 28 about a person in love 18 about a truck driver in love 16 about truck drivers who are not in prison 3 about a truck driver in prison who is not in love Find the number of songs about: a) How many songs were surveyed? b) truck drivers? c) prisoners? d) truck drivers in prison? e) people not in prison? f) people not in love?
In sales what rule applicable
income from depreciated asset is profit or loss?
I am Lavanya i have been selected in HR round in HP INVENT and i have Operation round as next round may i know what will they ask here and after this what is the next round?????
distinguish between price rate and time rate?
what is purchase tax in rajasthan.
What is written off?
who introduces the single entry format?
What is specific reserve
how to entery pass in tally when items damage(items insured)and claim to insurance co.
CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
If i want to establish a company in which i want to manifacture and sell the Wine. So how many permissions i have to taken and who will issue those?