Golden rules of accounting
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Answer Posted / ramesh behera
Golden rules of accounting
Personal A/c- Debit the receiver
Credit the giver
personal A/c relalted Ram, gopal Etc for Exp-Purchase goods
purchase from ram on credit in this case Ram is the Pesonal
A/c Rules
purchase A/c Dr
to
Ram A/c Cr
Real A/c-Debit whats comes in
Credit whats goes out
Real A/c Related goods, cash etc For Exp-Purchase furniture.
Rules
Furniture A/c Dr
to
cash
Nomila A/c-Debit All the Expenses & Losess
Credit All the Income & Gains
Nomila A/c Related-Bad debt Bad debt Recovery etc For Exp-
Sales Goods to ram Rs-5000 but received from his Rs-4500.
Rules
Cash A/c 4500 Dr
Bad debt A/c 500 Dr
to
Ram A/c 5000 Cr
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Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000
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