Interested to Buy Any Domain ? << Click Here >> for more details...
when we compare to bank statement with the our pass book
the enteries are opposite why this happens?
- 1 Answers
- 3307 Views
- I also Faced
- E-Mail Answers
Answer / safayat
When we deposit any amount in the bank account, we increase
our bank balance by debiting in our pass book. As that is
our asset. But for bank, the amount we deposited is a
liability for the bank as the bank is liable to give us the
amount back. So, the bank in their book make our deposited
amount a credit entry. We know, liability is always credit.
| Is This Answer Correct ? | 3 Yes | 0 No |
Is there any significance between Bank Reconciliation and Account Reconciliation in Accounts?
Please explain subcontracting accounting entries in SAP with realtime example and amount.
What is normative accounting?
why the net profit arises on the debit side of profit and loss account wen the nominal acount rule states debit all expenses and losses and credit all incomes and gains
what is badts and its entries?
Purchase and sales sahres accounting entry which have stt brokerage and other taxes
which expenses are covered under indirect expenses
whats the manufacturing account
if we have provision for bad debts and RDD then on which amount we have to calculate RDD original or deducted?
What are the four classifications of bad and doubtful debts as per the context of the bank?
Tell us depreciation and its types?
What is liabilities and what all does include in current liabilities?
Audit 
