Answer Posted / pravi
Personal Account-Debit the receiver and credit the giver
Real Account - debit what comes in credit what goes out
Nomial Account -debit all expenses and incomes and credit
all losess
| Is This Answer Correct ? | 16 Yes | 3 No |
Post New Answer View All Answers
What is BRS Adjustment entry?
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
What are the elements of the accounting equation?
8. What is the difference between: a. Direct Costing Method and Absorption Method. b. Fixed Cost and Variable Cost.
Define fair value accounting?
Do you know what are trade bills?
WHAT IS NPF IN ACCOUNTS. AN ENTRY IN BANK STATEMENT" NPF SOME NAME XXXX DR SIDE" PLEASE ANSWER WHAT IS NPF?
have you ever been involved in an invoice dispute? How did you manage the problem?
what accounts payable applications are your familiar with?
Tax Invoice: Client had settled Rs. 5,25,000/- {after deducting TDS @ 10% from base/gross amount and then added (+) Service Tax Amount (15%)} which equals to Rs. 525000/- (Settled Amount by Client). Please let me know what will be gross amount and total invoice amount including Service Tax????
What is the Full Procedure of Purchase ?
Under Accrual Accounting, How Are Worker Comp Premiums Handled?
What is the difference between accumulated depreciation and depreciation expense?
all ques. related to accounts?
how to we pass a purchase entry in item invoice mode where some advance has been paid to the party. the purchase entry should get offset with the advance payment entry so that it does not appear in the bill outstanding or bills due list. please guide.thank you