Answer Posted / safil

DEBIT CREDIT

PERSONAL A/C : 1) A PERSON BECOMES OUR 1)A PERSON BECOMES OUR
DEBTOR CREDITOR
2) WHEN A PERSON CESES 2)WHEN A PERSON CESES
TO BE OUR CREDITOR TO BE OUR DEBTOR

REAL A/C : 3) WHAT COMES IN 3) WHAT GOES OUT

NOMINAL A/C : 4) EXPENSES & LOSES 4) INCOME & GAIN

The following Trial Balance was extracted from the books of Chetan.Do you think that it is correct? If not,rewrite it in the correct form. Debits Rs Credits Rs ------------------------------------------------------------ Stock |8250 | Capital |10000 Purchases |12750 | Sales |15900 Returns outward |700 |Returns inwards |1590 Discount received|800 |Discount allowed |800 Wages & salaries |2500 |Scooty |1750 Rent and rates |1850 |Carriage charges |700 Sundry debtors |7600 |Sundry Creditors |7250 Bank Overdraft |2450 |Bills payable |690

7480

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Placed an order with Mani for supply of goods worth Rs.5000/-. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?

1989

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Classify bank account, stock of stationary account, returns inward account ou$tstanding rent account and capital account into real, personal and nominal account.

2176

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Short Answer on __________Event

2031

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2066

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1993

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2208

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2205

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2171

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1953

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while passing a journal entry we rite dr. for the a/c to be debited but why don't we write cr. for the a/c which is credited and instead write 'TO'??

2106

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2204

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Define The Term Journal And Explain The Present Day Use?

2375

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2042

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2143

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