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

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

Answer / p.m.krishna reddy

Debit means what is receiving aspect
Credit means what is giving aspect

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

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

Answer / avinash

DEBIT,WHAT COMES IN. .RECEIVING AND CREDIT,WHAT GOES OUT. . GIVING

Answer / vamshi m

receiving aspect or incoming aspect comes under debit aspect
giving aspect or outgoing aspect comes under credit aspect

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

Answer / anil kumar goud

debit is left,coms in, recieving
credit is right, goes out,giving

Answer / babitha

debit:- expenses,losses credit:- incomes,revenues

what is a depository?

0 Answers   Mellon,

Expand-----ADRC

1 Answers  

wages posted twice what is the entry for that?

0 Answers   Genpact,

From the following information you are to prepare a Cash Budget for the period from July to December 2008. (i) The estimated sales and expenses are as follows: June July Aug. Sep. Oct. Nov. Dec. Sales 35,000 40,000 40,000 50,000 50,000 60,000 65,000 Purchases 14,000 16,000 17,000 20,000 20,000 25,000 28,000 Wages & Salaries 12,000 14,000 14,000 18,000 18,000 20,000 22,000 Expenses 5,000 6,000 6,000 6,000 7,000 7,000 7,000 Interest Received 2,000 - - 2,000 - - 2,000 Sale of Fixed Assets - - 20,000 - - - - (ii) Sales are 20% in cash and balance on credit. 50% of the debtors are collected in the month of sales and the remaining in the next month. (iii) The time lag in payment of purchases and expenses is 1 month. However, wages and salaries are paid fortnightly with a time lag of 15 days. (iv) The company maintains a minimum cash balance of Rs. 5,000. The cash balance in excess of Rs. 7,000 is invested in government securities in multiples of Rs. 1,000. Short falls in cash balance are made good by borrowing from banks. The interest received as well as paid is to be ignored.

0 Answers   Ignou,

capital introduced by partners? how it will be shown in tally? (i.e.at the place of Account what we have to post) (at the place of particulars what we have to post) (in which vocher we can post it)

0 Answers  

CAN PRE OPERATIVE EXPENSES BE CAPITALISED? IF YES, HOW CAN IT BE DONE?

6 Answers  

What is a dead A/c?

2 Answers   Time,

What is the difference btwn "Sales" and "Turnvoer".

12 Answers  

what is Tds %,Service tax %,Cess %,and ESI,PF %,and what is the use of this.

0 Answers   CA,

fill in the Blanks Share Holders in Company have _____________Liability

0 Answers  

What do you mean by domestic expenses?

2 Answers   ACS,

Expand C A P

2 Answers