Golden rules of accounting
Answer Posted / ravindra kadam
real a/c : Debit what come in
Credit what goes out
nominal a/c :Debit all expenses & loses
Credit all profit & gain
personal a/c :Debit the recevier
Credit the giver
| Is This Answer Correct ? | 1 Yes | 1 No |
Post New Answer View All Answers
What Is Depreciation, and from which date do we charge Depreciation for an asset ?
Cost center 60500 in controlling area 1000 is locked for revenue postings on 31.03.2008.Now How can I Assign the account to another cost center or allow cost center 60500 to again accept revenue postings.
What is functional area,trading partner in sap fico
In sales what rule applicable
what is portfolio Saint?
.,can someone tell me how to compute the subscribed capital share?
From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.
which are the basic princeples of accountancy... with examples
is it necessasary to make a partnership deed
what are your plans after completing your MBA (or) studies ?
what is organic profit? and how it is calculated?
if we have credit 50 % rg23c part ii first and not credit next balance 50 % .when we have do?
I was born on 4th may 1981 iam i eligible to apply for SBI clerical job vacancy
which name written in Tan application form Applicant is sole proprieter companies name or individual name?
Iam selected for final round of interview in IDBI bank for asst. manager post. Can any one help me in knowing what kind of questions will be asked in the interview and how should i prepair?