Answer Posted / sneha

nominal a/c is show the all expense,losses & gail,profit
nominal A/c rule=all exp. debit
all income & gain credit.
Real a/c is show all assets,current & fixed assets.
reasl a/c rule= Debit Whats come in
Credit whats Goes out.
Personal A/c is show,person name ,bank ,firm,company name.
personal A/c rule = Debit is the receiver,
Credit is giver,

can i direct payment made t code f-53 to bsnl agst telephone exp.? or 1st create a/c.of bsnl and book in fb60 then payment made whose correct?

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A and V enter into a joint venture to sell a consignment of biscuits sharing profits and losses equally. A provides biscuits from stock Rs 10000. He pays expenses amounting to Rs 1000. V incurs further expenses on carriage Rs 1000. He receives cash for sales Rs 15000. He also takes over goods to the value of Rs 2000. The profit on joint venture is 7 (a) Rs.3000 (b) Rs.5000 (c) Rs.6000 (d) Rs.3500

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