Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / vinay kumar . pagidikondala
The accounts are divided into two groups i.e.
$ Personal accounts
Debit is the receiver
Credit is the giver
Ex: Sundry creditors & Sundry debtors, etc
$ Impersonal accounts
== Real accounts
== Nominal accounts
Real accounts :
Debit is what comes in
Credit is what goes out
Ex:- Furniture, Land, Building, cash, etc
Nominal accounts :
Debit is all expenses and losses
Credit is all incomes and gains
Ex:- Salraies, intrest, etc
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
I have passed in SBI clerical exam 2009 , pls tell me what question will be asked for interview .pls mail it on my email id sawant.supriya51@gmail.com
what is profit maximisation
How is scrap value calculated?
what is wct ? who take its benefit? e.g. we are works contractor, we are liable to take its benefit or not..
why creditors a/c dr. to discount received a/c ?
As you know excellent communication skills are at the core of this position. Do you have experience with interpersonal communication in a professional setting?
EXPLAIN EACH SECTION PROVISIONS ON TDS?
how pass journal entry in the month ending for input vat and out put vat
what is difference between budgeting and Forecasting
over draft balance as per cash book (journal entries needed) a,cheques deposited in bank but no entry was passed in cashbook b, credit side of the bank, column cash short c, chques received but not sent to bank d, insurance premium paid by bank as per standing instructions e, credit side of bank, coloumn cash short f, bank charges entered in cash book twice g, cheques received returned by bank but no entry passed h, cheques issued returned on technical grounds i, bills directly collected by bank j, bank charges debited by bank k, cheques received entered twice l, bills discounted dishonoured
Describe a time when you have not met your goal?
Mr. A purchased a machinery costing Rs. 1,00,000 on 1st October, 2005. Transportation and installation charges were incurred amounting Rs. 10,000 and Rs. 4,000 respectively. Dismantling charges of the old machine in place of which new machine was purchased amounted Rs. 10,000. Market value of the machine was estimated at Rs. 1,20,000 on 31st March 2006. While finalising the annual accounts, A values the machinery at Rs. 1,20,000 in his books. Which of the following concepts was violated by A? (a) Cost concept (b) Matching concept (c) Realisation concept (d) Periodicity concept.
I post Optional Voucher in Tally.ERP in which there is deduction of TDS is applied. But when I convert this voucher as regular voucher the TDS entry have to make again why so
Accounting Questions
in Sensex and Nifty, what is the measure to take the points
