Answer Posted / abdulla koya

To debit means entering a transaction on the debit side of
an account and to credit means entering a transaction on
the credit side of an account.It may sound a vague
explanation of the terms, but it is confusing to assign any
other meaning to the terms.A simple rule for debiting and
crediting is:
Dedbit when there is an increase in assets or decease in
liability and
credit when there is an decease in asset or increase in
liability
Plese remember that any business transaction would result
in in any one the following situations:
1.Increase in an asset and decrease in another asset
2.Increase in a liability and decrease in another liability.
3.Increase in an asset and increase in a liability.
4.Decrease in an asset and decrease in a liability.

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2095

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how to reduce the interesting giving to debts ?

2130

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4546

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What does the investment of personal assets by the owner will do?

1076

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In accounting, are assets a permanent account?

1230

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cost of lease=20,000.refundable deposits 2000 (after 4 years).annuity value for 4 years @5% is .2820.find the net charge to p&l a/c

2244

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2121

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What is bond ? What is capital market?

1996

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1085

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Do you possess any knowledge about accounting standards?

1058

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journal entries for money received from RBI by the banks IN CASE OF INSUFFICIENCY

1859

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Tell me deferred taxation is a part of which equity?

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2286

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what stock transfer applicable in sister concern unit.

2216

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