What is double entry book keeping?
Answers were Sorted based on User's Feedback
Answer / vkskumar171
DOUBLE ENTRY BOOK KEEPING MEANS THAN WE ARE DOING JOURNAL
ENTRIE THAN TWO SIDE EFFECT DR SIDE AND CR
EXAMPLE:
BANK A/C 500
TO CASH A/C 500
THIS ENTRIE SHOW BANK IS DR AND CASH IN CREDIT
BANK IS INCREASE
AND CASH IS DECREASE
Is This Answer Correct ? | 12 Yes | 1 No |
Answer / akash jain
DOUBLE ENTRY BOOK KEEPING MEANS An accounting technique which records each transaction as both a credit and a debit. Credit entries represent the sources of financing, and the debit entries represent the uses of that financing. Since each credit has one or more corresponding debits (and vice versa), the system of double entry bookkeeping always leads to a set of balanced ledger credit and debit accounts. Selected entries from these ledger balances are then used to prepare the income statement.
Is This Answer Correct ? | 3 Yes | 0 No |
The Trial Balance of M/S Ram & Co,Shows chosing stock of Rs,30000. It will be recorded in: - .................. (a) Trading A/c; (b) Profit & Loss A/c; (c) Balance Sheet; (d) Both (a) & (b)
What i the Limitations of Ration Analysis?
If one person has been paid excess salary in particular month. In next month we want to deduct the excess given in last month what will be the entry, Assume: excess given 2227 This month details : Gross 20058, PF 780, PT 200, and net must be 16851 all effective figures must consider in entry
Expand GDP?
what is amortization?
whts is the meaning of over cost and under cost, what is difference ?
land Adn Building come under fixes assets or not?
Expand ________FAQ
Expand---------EDP
what type of invoices used in small companies-for the process of accounts receivable.
Agreement of Trial Balance is not a conclusive proof of absence of Errors. Will you support me
A worker has time rate of Rs. 15/hr. He makes 720 units of a component (standard time 5 minutes/unit in a week of 48 hours). His total wages including Rowan bonus for the week is _____. A. Rs. 792; B. Rs. 820; C. Rs. 840; D. Rs. 864.