what is meant by debit and credit
Answer Posted / muni krishnan .a
As per Accounting Priciples,
1.Personal a/c :Debit , What comes in
: Credit ,What goes out.
2.Real A/c : Debit ,the Receiver
: credit ,the Giver
3.Nominal A/c : Debit, all Expenses & Losses
: Credet ,all INcomes & Gains
Is This Answer Correct ? | 5 Yes | 1 No |
Post New Answer View All Answers
what are the different causes for discrepencybetween the balance of cash book and pass book
What are the different payrolls? how we calculate the exmployee payroll? how we calculate the employee salaries details?
You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger
whst is detailed information aboutaccounting standards 20to 29
Tell me about how you have left a position better than you found it
explain sales/purchase accounting?
EXPAND___________NAA
What Question ask in MARKIT Company?
why you would like to work for the our(AIRLINE) Group ???
What do mean by Computerization of accounts
Expand-------MTRS
what is duties and responsibilities for clark working in sbi
If we spend a sum of Rs.10 Lacs towards Processing and Upfront fee for obtaining working capital term loan. can we treat this amount as a deferred revenue expenditure or not
Short Answer on ________Adjusting Entries
Explain howyou would account for the following items/situations,justifying answers by reference to the conceptual frameworks defintion and rcognition criteria. a)A trinket of sentimental value only b)You are the guarantor for your friends bank loan i) You have no reason to belive that your friend will default on the loan ii) As your friend is in serious financial dificulties,you think it is likely that he will default on the loan c)You receive 1000 shares in X Ltd,trading at $4 each,as a gift from a grateful client. d)The panoramic view of the coast from your cafes windows,which you are convinced attracts customers to your cafe