Interested to Buy Any Domain ? << Click Here >> for more details...
Golden rules of accounting
- 369 Answers
- 712262 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answer Posted / sonesh kumar
There are three rules of accounting---
1-real account(e.g.cash,good,etc)
debit-what comes in
credit-what goes out
2-personal(e.g.company name,firm)
debit-benifit to receiver
credit-benifit to giver
3-nominal account(e.g. exp.&income)
debit-all exp. and losses
credit-all income and gain
| Is This Answer Correct ? | 14 Yes | 2 No |
Post New Answer View All Answers
Short Answer on __________Revenue
My company's accountant use two different way to calculate Depreciation,one as per Companies Act and another rate for Income Tax calculation. Why we have to use two way to calculate it? Can we just use one way to calculate?
What is the journal entry for Call and a Put option both in the books of buyer and seller
outstanding expenses, prepaid or unexpired expenses
selling price = shs. 200, variable overhead-selling per unit= shs 80, variable production cost per unit = shs 60, fixed selling cost = 2,840,000. the production capacity of the project is 200,000 units. required P/V ratio, BEP and margin of safety
what is purchase consideration?
What is Provision for expenses?
What is written off?
Please tell me about service tax, tds, vat & ITR return with A to Z completely detail.
your parents have lent you $20,000 to buy a car and have told you to pay it back whenever you like in conceptual framework
what is debit/credit note ? what deffered income and expencess?
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 type of a/c these accounts are are tey real, nominal or personal (1)realisation a/c (2)new company a/c(3)equity share holders a/c
What is meant by consignment
If a bank lends money to FFMC's for working capital requirement, whether the Bank can have charge on the currencies FFMC deal/exchange, by way of hypothecation or is it just a clean loan.
