Interested to Buy Any Domain ? << Click Here >> for more details...
Golden rules of accounting
- 369 Answers
- 707180 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answer Posted / fareed khan
Real Account: Debit what comes in.
Credit what goes out.
Nominal Account: All Expenses & losses are debit.
All Incomes & Profits are credit.
Individual Account: Debit the Receiver.
Credit the giver.
| Is This Answer Correct ? | 2 Yes | 1 No |
Post New Answer View All Answers
what is the step in preparing the schedule of audit? can someone explain for me?
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.
At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?
Assets are held in the Business for the purpose of____________________
how to calculate IT? if bank intrest:1036 , long term capital gain:448841 short term capital gain :894 , income from rent 225000, and income from other source 347478, Advance tax paid 25000,lic 101508, medicliam 6990 and tds recd.25000
Expand-------BANT
Name the Accounting Concepts
what is the procedure of interview question in genpact
Explain Cash Basis of accounting
In IGATE, 2 yrs bond for fresher and reverent experience 1 year bond. First z essay writing. “Unforgettable movement ur life” Tiz in ITPL IGATE stopping
What is Merger?
Queries for Big4 Articleship : Whether son of CA in practice effects chances.
explain Dual entry concept
Paid office electricity charges Rs 15000/- and Ram partners residence electricity charges 1250 thr andhra bank cheque
EXPAND______________ICT
