Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / m. maruthi
Debit and Credit both are accounting terminologies which is used to record the transactions of the business.
Debit is the receiving aspect and credit is the giving aspect. These are the two aspects which satisfies the dual aspect concept.
| Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
What is the rate of penalty charged when the given Vat Cheque dishonoured?
Dear sir, In tally what is list of cost centres? and what is the list of cost categories?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
What is batch input? why we use batch input session in SAP(FICO)?
What a deferred asset is and give an example?
IS THERE ANY DIFFERENCE BETWEEN PAID UP CAPITAL AND PAID IN CAPITAL?
What would be the entry at the time of Generating Tution Fee Challan for Advance fees. (e.g In the Month of April, Fees of June and July in being asked to pay by school to their students?,
entry for cash received from debtors
The following are the list of Balances of SUNSHINE Company as at 1.2.2012 RM Land and building 450,000. Furniture and Fittings 35,000. Office Equipment 25,000. Motor Vehicles 75,000. Inventory 5,000. Trade Receivables 12,000. Trade Payables 8,000. Bank Loan 200,000. Bank 13,000. Cash in Hand 1,000. Capital 408,000.
Do you know in accounting, vat abbreviates what?
what is differnce between balance sheet of a bank & a company
Re: CST RATE IS 1 % IF C FORM IS RECEIVABLE. IF C FORM IS NOT RECEIVED FULL AMOUNT WHAT WILL BE THE RATE OF CST
bank jobs
Write about the media role in daily life
Differentiate public and private accounting?
