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when we debit any party in our account?
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Answer / komal bhardwaj
when we sell or provide any goods or service to our customer
or client.
| Is This Answer Correct ? | 18 Yes | 6 No |
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 |
Answer / idrees ahmad
when we provide any service to our customer or client.
| Is This Answer Correct ? | 6 Yes | 2 No |
Answer / n harini
When we provide any services to customer if any transaction
palace
| Is This Answer Correct ? | 2 Yes | 1 No |
Answer / deepak choudhary
as per the golden rules of accounting -personal account specifically states that debit is the receiver $ credit is the given which means if we sell any commodity or our services to any person then that person will be debited in our accounts as a receiver of that services...$ that person or party can also be termed as our "debtor"
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / priya
As per the accounting rule debit the receiver credit the giver so we receive goods n services from party then we gives dr. to the party a/c.
| Is This Answer Correct ? | 0 Yes | 2 No |
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A new firm commenced business on 1st January, 2006 and purchased goods costing Rs. 90,000 during the year. A sum of Rs. 6,000 was spent on freight inwards. At the end of the year the cost of goods still unsold was Rs. 12,000. Sales during the year Rs. 1,20,000. What is the gross profit earned by the firm? (a) Rs. 36,000 (b) Rs. 30,000 (c) Rs. 42,000 (d) Rs. 38,000
Audit 
