Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / h.r. sreepada bhagi
Debits & Credits in Accounting are defined as Rules of
Accounting as below :
1.Personal A/c - Debit the Receiver & Credit the Giver.
2.Real A/c - Debit what comes in & Credit what goes out
3.Nominal A/c - Debit all expenses & losses & Credit all
Incomes & Gains.
Generally Debit amounts are entered on the left column &
credit on the right column in Accounts. In some softwares,
all entries are made in one column with Dr. or Cr. Sign or -
sign for credits.
| Is This Answer Correct ? | 13 Yes | 4 No |
Post New Answer View All Answers
How do I record a prior year property tax refund on sale of asset due to overvaluation
on what rate depreciation will be calculated?
Why Is The Distinction Between Product Costs And Period Costs Important?
What are the two most important Factor that should be kept in mind when there is a buy back of shares in companies as per indian companies act,1956
What is the treatment of claim settled by insurance company but still receivable in profit and loss account
What are the disadvantages of double entry system?
Do you know offset accounting?
Hi, we are not a VAT register and raised not VAT bill to company for signage material. they are deducting WCT @4%, can anybody help me why they are deducting WCT while i am not a VAT register vendor, as i do not cross threshold limit.
What is an interest rate swap
wat is mass allocation and when it is used
What is the difference between provision and reverse?
adjustment entry showing in tally such as outstanding salary prepaid salary etc.
A loan of 10000 with 10% interest is fully due after 6 month. What will accrue differed, outstanding?
How to make a vat entry in books including setoff?
Tell me whether the account “cash” will be credited or debited, when a company pays a bill?
