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HI ALL PLS EXPLAIN IN BRIEF ABOUT DEBIT& CREDIT& ALSO GIVE
EXAMPLES FOR PERSONAL a/c,REAL a/c,NOMINAL a/c?
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Answer Posted / praveen
Debit & Credit are noting but Two Sides of a each & Every
Acoount in Double entry System.
e.g. Personal A/c- Dhiraj A/c,A/c in the Name of Co.etc
Real A/c- MachinaryA/c, Building A/c,
Nominal A/c- Nominal A/c are the accounts prepered for
nominal reason.e.g. postage A/C,Curiour A/c etc
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How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?
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