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what is meant by debit and credit
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Answer / muni krishnan .a
As per Accounting Priciples,
1.Personal a/c :Debit , What comes in
: Credit ,What goes out.
2.Real A/c : Debit ,the Receiver
: credit ,the Giver
3.Nominal A/c : Debit, all Expenses & Losses
: Credet ,all INcomes & Gains
| Is This Answer Correct ? | 5 Yes | 1 No |
Answer / madhusudan chauhan
debit word origin from the debt it maens that u r making
any company or person in debt.
if u are giving money to any person in this condition he is
debtors ex. you paid 100 rs to 'b' so b is debit in your
books
and credit means any company gives the money just like 'a'
gives u money so a credit in the books
give money to 'a'= a dr.
come money from 'a'= a cr.
that's a simple funda
| Is This Answer Correct ? | 6 Yes | 3 No |
Answer / p.m.krishna reddy
Debit means what is receiving aspect
Credit means what is giving aspect
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / ramu
Debit means simply we can say that left hand side part of an account is debit where as credit is right hand side part of an account
| Is This Answer Correct ? | 3 Yes | 3 No |
Answer / anagha r datar
As per Accounting Principles,
1.Personal a/c : Debit ,the Receiver
: credit ,the Giver
2.Real A/c : Debit ,What comes In
: credit ,What goes Out
3.Nominal A/c : Debit, all Expenses & Losses
: Credit ,all INcomes & Gains
| Is This Answer Correct ? | 2 Yes | 2 No |
Answer / avinash
DEBIT,WHAT COMES IN. .RECEIVING AND CREDIT,WHAT GOES OUT. . GIVING
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / vamshi m
receiving aspect or incoming aspect comes under debit aspect
giving aspect or outgoing aspect comes under credit aspect
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pattan mohammad rafi
According to personal account
DEBIT THE RECEIVER
CREDIT THE GIVER
According to real account
DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
According to nominal account
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL GAINS AND PROFITS
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / anil kumar goud
debit is left,coms in, recieving
credit is right, goes out,giving
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / babitha
debit:- expenses,losses credit:- incomes,revenues
| Is This Answer Correct ? | 11 Yes | 14 No |
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Audit 
