why debit is called debit.& why debit is on left side,why
not on right side ?
Answer Posted / madhavi.p
DEBIT IS SOMETHING WE HAVE GIVE/RETURN, I.E., ACCOUNTS
PROCEDURE AND RULE CANNOT BE CHANGED
| Is This Answer Correct ? | 9 Yes | 8 No |
Post New Answer View All Answers
What is executive accounting?
whats the sales tax slab and company's turnover professional tax slab
What have you read in the newspapers in the last few days that particularly interested you?
Entry for revenue item will be Expenses A/C Dr to Cash. But in the Profit and Loss account we will see the expenses with a pre fix of To Expenses Why?
Why companies are issuing their shares at premium and discount? What benefits the companies and the investors can get in both the cases?
WE PURCHASED ONE ASSET,HOW CAN WE CALCULATE EXCISE DUTY,VAT,SERVICE TAX?[IN CASE OF SELLING PURPOSE OR OWN PURPOSE].SHALL WE CLIME CREDIT ON THAT?THEN HOW?
Explain me what is tally accounting?
salary and rent entry with tds deduct
Is there a difference between accounting for conversion of bonds and accounting for the conversion of preferred stock?
Trial balance as on 31st March, 2014 Particulars Debit Pula Particulars Credit Pula Wages 14 100 Dividends received 4 300 Salaries 13 000 Bank overdraft 41 000 Opening Stock 40 000 Returns 1 000 Machinery 49 000 Creditors 14 200 Investments 30 700 Sales 258 500 Drawings 23 000 Capital 30 000 Purchases 130 000 Returns 2 000 Debtors 18 000 Advertising 13 400 Interest 4 800 Cash 11 000 349 000 ======= 349 000 ======== Additional information: 1. Closing stock is valued at P53 000. 2. Wages include P350 being advance against wages. 3. Wages include P1 000 paid for erection of machinery. 4. A purchase of stationery for P430 has been inadvertently included in the Purchases account. 5. A sale of investments with a book value of P2 600 for P2 500 has been included in the Sales Account. 6. Salaries include P150 per month paid to the proprietor’s domestic servant. 7. Machinery is to be depreciated by 10 per cent. Required: a. The revenue statement (Trading and Profit and Loss Account) for the year ended 31st March 2014 and b. Statement of financial position (Balance Sheet) as on 31st March, 2014.
what is account reconcillation
How to pass the entry in tally for demolished of building?
Tell us what inspired you to move to the next opportunity?
how many view the tally backup erp9 after the tally backup in tally
Explain accounting 101?