Answer / libin kulamuttom

Debit means writing an entry on the left-hand side of an account.The word debit is comes from the Latin word 'Debere'.That is why it is abreviated as 'Dr'.As per accounting rule expenses and asset will have debit balance.

Answer / prasad

Debit means an expence.

Answer / nishant kumar

Debit is basically the liabilities that are expenced by the
organisation.E.g:-Salary,Wages,Bad Debt,Bonus Intrest on
Loan etc.

what about the manapuram fm

1 Answers   manappuram,

---

Company A has purchased goods worth Rs. 25000 from company B and made the cash payment of Rs 5000 and remaining will be payable with in 30 days. Assume that there is a late payment charge @ 2% on remaining amount as the invoice was received after due date from company B. Pass the journal entry in the books of company A for all the above transactions.

1 Answers   SSPL,

---

Please let me know in which Section we can disallow loss on sale of assets which has been debited in profit and loss account

1 Answers   Genpact,

---

what is contra entry . plz explain with example.

6 Answers   KOMA,

---

i am working in bajaj authorised dealer company my question is when we sale of two wheeler vehicale with finance what is the sale of entry can you say briefly(how to pass the sale entry in our books)

1 Answers  

---

What is the difference between issued capital and subscribed capital?

2 Answers  

---

Can you tell me entry tax will be applicable on Spectacles purchase from u s a  

0 Answers  

---

what is the entry for provission for salary t 31march and 1st april and payment

5 Answers  

---

Manoj & Mahavir joined a firm drawing salary of Rs 25000 per month.After serving 3 yrs ,they started business of their own in partnership,contributing Rs200000(expected life 10 yrs,bought spare parts worth Rs 33000 from Kundu on credit.Office supplies were purchased for cash.Initially they were very busy in conducting their business operations but by the end of the 1st year,31/12/2005 they were disappointed when they found their bank balances.Following is the summary of their bank statement. Receipts: Share Capital Rs 250000 Collections from Customers 412000 Payments: Equipment 200000 Salaries of Assistants 88000 Rent advance for 2 yrs 96000 On-year ins. Policy on equipment 12000 Office stationery 27000 Payment to Kundu 29000 Withdrawals of Manoj 90000 Withdrawals of Mahavir 90000 Closing balance c/d 30000 ----------- Total : 6,62,000 Still amount receivable from customers for services to them amounted to Rs 30,000 & closing balance of office stationery is Rs2000,spare parts Rs2600 were utilised by the end of the year .Prepare trial balance with the available information and show total. Also what is the net profit.

3 Answers  

---

hi to all what is the usage of legal enitiy in oracle apps r12. its functions. and why it is necessary plz answer my question as soon as possible

1 Answers  

---

wt is a/c

3 Answers  

---

what is cenvat

2 Answers  

---