Let me know why we debit expenses and credit revenues
- 3 Answers
- 4372 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / goutam de
BECAUSE WE FOLLOW THE 3RD BASIC PRINCIPLES OF ACCOUNTING BY
DEBITING ALL EXPENSES AND LOSSES & CREDITING INCOMES &
GAINS
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / sindujaramkumar
according to the rule of nominal account
Debit all expenses and losses
credit all incomes and gains
we are debiting the expenses and cediting incomes
| Is This Answer Correct ? | 8 Yes | 0 No |
Answer / hemanta behera(maxnewyork life
it is only used nominal account
because we are used all expenses under this rules
debit all expenses and losess
credit all incomes and gains
it is consists monthle expenses
| Is This Answer Correct ? | 1 Yes | 0 No |
Repaid the loan taken from Sachin for the marriage out of the business. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
what is the subprime?explain it.
Sales Return is asset or laibility
How to make an adjustment entry for the variation of physical asset Vs book value of asset. For example: As per asset register there are 1000 computers where as 950 computers are available in stores. How to make an adjustment entries for the difference of 50 quantities?
what is debentures
31 Answers eClerx, IBM, Syntel,
how could prepare a bank charges entry in the tally
what happens to each of the three primary financial statements when gross margin decreases?
write about an e-mail to manager seeking permission for leave
What is Merger?
What do you mean by Adjustment
This question mainly related to pay rolls in excel could i get the formulae for this an employee is working 8 hours in the company the excess of eight hours will be treated as o.t
Telly ERP9 is perfect accounting softwear in excise unit.
Audit 
