What are the golder rules of Accounts ?
Answer Posted / ashish
Rule 1 : Debit what Comes in Credit Wat Goes out
Rule 2 : Debit the reciever, Credit the giver
Rule 3 : Debit all expenses, losses and assets credit all
incomes, gains and liabilities
Is This Answer Correct ? | 150 Yes | 43 No |
Post New Answer View All Answers
my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.
Expand DEHM
SOUTH ATLANTIC OIL AND GAS INC.is a fraud company
what is the procedure of interview question in genpact
what is forecast
Short Answer on _________________City Compensatory allowance
How can you actualize cah flows of 5 years at 8%
Expand-------URM
what is the difference between planned and non planned budgt
all of interview question about coop bank of oromia
what tax will be on puchasing of sweets and is necessery to use form 38.
in case dedit balance of solvent partner and in case credit balance of insolvent partner what i do for accounting on dissolution of partnershio firm give me ans. as per garrner v/s murry rule
plz send me the accounting questions and answers of bank of america.
why should i hire you? what are your outside interest? what was your toughest decision you ever have to make?
what is the difference between sap and sas?