Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

what is debit and credit in accounting

Answer Posted / nida

what comes in is treated debit and what goes out is treated
credit in accounting.for example
purchased furniture for cash, we record it
what comes in(furniture)dr and what goes out (cash)
cr furniture a/c dr
cash a/c cr

to write any account at the right side is credit and to
write any account at left side is called debit in accounting

Is This Answer Correct ?    1 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

Is it mendatory to provide deferred tax asset, where the management not expecting taxable profit in the subsequent financial years.

2124


What is a ledger in regards to accounting?

1126


Tell me about a situation where you showed determination?

1037


What are accounting rules called?

1053


if at the end of the year cash book is showing debit balance whether it is meant that cash is not deposited after deducting expenses in bank and it is in hand and we should deposit in next year

1903


What is the fictitious assets?

1086


Tell me what does the standard journal entry includes?

3992


1.WHAT IS BRS? 2.WHY DO WE PREPARE BALANCE SHEET? 3.WHAT IS TRIAL BALANCE? 4.WHAT IS VENTURE CAPITAL? 5. WHAT IS DEFFERED REVENUE EXPENDITURE?

7840


What is accounting for plant assets?

1145


Is transfer Profit / loss account to capital account important in Tally ERP 9 at the end of the financial year? And what is the benefit of transferring P/L account to Capital account ? Please I want someone to answer my question, this is my second question I posted one question 2 days ago also nobody reply to that question. Thank you.

2213


What is a business transaction in accounting?

1126


In which condition a vendor raise excise invoice & what are the effect of excise invoice on client ?

1423


When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?

1923


Define tally accounting

951


You are a B.E Student? How can u manage Banking?

1873