Explain "debit what comes in credit what goes out"
- 6 Answers
- 41015 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / sk
it is one of basi accounting priniciples. if we purchase
anything for cash.
the goods are coming inside and cash is going outside.
goods purchases a/c dr.
to cash a/c
| Is This Answer Correct ? | 156 Yes | 19 No |
This is the one of the Accounting rull of Golden rules of
Accouting
Real Account is nothing but " Debit what comes in Credit
what goes Out.
For exp: Land purchased
Entry: Land A/c Dr
To Cash A/c Cr
in this exp debit comes in means Land will come our company
Credit what goes out means Cash will go out of the company
| Is This Answer Correct ? | 113 Yes | 10 No |
Answer / sourabh singh
This is the defination of Real Account & parts of Golden
Rule where anything come it will debit & anything goes it
wll credit ie,
Furniture A/c ------------Dr
To Cash/BAnk
| Is This Answer Correct ? | 60 Yes | 7 No |
Answer / pramod yadav
This is the one of the Accounting rull of Golden rules of
Accouting
Real Account is nothing but " Debit what comes in Credit
what goes Out.
For exp: Land purchased
Entry: Vehicle A/c Dr
To Cash A/c Cr
in this exp debit comes in means Vehicle will come our company
Credit what goes out means Cash will go out of the company
| Is This Answer Correct ? | 7 Yes | 1 No |
Answer / upender. a
Ofcorse it is the rule of Real a/c.
that Debit What comes in & Credit What goes out.
Ex : if u purchased a furniture and paid Cash, then journal entry is:
Furniture A/c.__________ Dr
To Cash Ac.
Here u r getting the furniture (what comes in)
and u r paying the cash. (what goes out)
| Is This Answer Correct ? | 4 Yes | 0 No |
i m having interview in federal bank for the post of PO, as i hv cleared the written exam. Please tell me how to prepare for that interview?
1 Answers Federal Bank, State Bank Of India SBI,
Take me through the entire vendor cycle.
Where we show Credit Card Account ( Credit Balance ) in Balance Sheet?
Define Capital Expenditure
What is means by ERS ?
What is meant by Kpo?If possible tell me the process too?
What is Reserv & surplus generally used in Balance sheet.
difference between company and industry?
A is raise a bill to B of amt. 25000/ At the time of payment B will be deduct the TDS from which rate.This bill raised first time to B By A. Trilok Sharma (Vigneshwara Developers)
How will we calculate T1, T2 capital in CRR(Cash Reserve Ratio)?
what is the mean of trail blance sheet
Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
Audit 
