Answer Posted / aijaz
When business sells/provides goods or services for cash,
Cash A/c has to be debited because cash is coming in. Rule
of Real A/c : Debit what comes in.
When business occurs expenses/losses, it has to be debited.
Rule of Nominal A/c : Debit all expenses & losses.
When business sells/provides goods or services on credit,
the person/firm has to be debited as the person/firm is
receiving goods or services, so the the person/firm is
receiver. Rule of Personal A/c : Debit the receiver.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
what is the format of salary slip when basic , D.A.H.R.A. ,conveyance allowence , concluded and in deduction part P.F. E.S.I. & P.Tax.
what accounts payable applications are your familiar with?
How can i learn shortly Tally from computer coz, i want to take a company Balance Sheet
I'am accountant working in a trading concern. I wish to become an accountant in a manufacturing/construction company.are there any books available in the market from which I can get an Idea as to how accounts are prepared and maintained for a manufacturing/construction company.
what is the amount withdrawlfrom other cbs branch by multicity chequ book.
How do you prepare a balance sheet from a trial balance?
What does an accurate trial balance suggest?
WHAT IS THE VAT/CST RATE FOR PURCHASING COMPUTER/PHERIPHERALS FROM GUJARAT AGAINST C FORM, FOR DIU (UNION TERRITORY) AND WHAT RATE OF VAT/CST I HAVE TO PAY IN DIU FOR SALE.
hi i want to run vendor debit memo after he paid all amount i want to give discount through miro i am giving the price and quantity and run in through miro the system will pass another two more line iteams extra and shwoing dr/cr balance +/- when i will increase the amount this is also increasing what is the reason i dont know please send me immediately
when we purchase of tractors and two wheeler vehicle from other state what we get taxes exemptions
What is the entry for closing stock value reduction?
Tell me what is “deposit in transit”?
we have registered to MCCIA(Maratta Chember of Commerce Ind & Agri.).They given a Tax Invoice against this registration with charging service tax@10.3%.can we take credit of this service charge ?
Tell me what is trial balance in accounting?
What can go wrong if you have a balance sheet with a lot of debt? What can go wrong if there is negative owner's equity? What does a good cash flow statement look like and why?
