Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

Answer Posted / babu r h

Personal A/C Says that : Debit the Reciever
Credit the Giver

Real A/c Says that : Debit what comes in
: Credit what goes out

Nominal A/c Says that : Debit all expenses & Losses
: Credit all Income & gains

Is This Answer Correct ?    0 Yes 1 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

how to maintain E-Commerce companies accounts

1465


How will we calculate T1, T2 capital in CRR(Cash Reserve Ratio)?

2947


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.

3028


Sir,I want to be good in accounting .Now i have got an oppurtunity to work in accounts department but i am average in accounts.So how can i improve and work with effiency guide me with ur tips.

2147


What are direct income and indirect income

2054


Distinguish capital and revenue expenditure

2117


what is finance what is bpo why do u want join a BPO types of process in BPO Company's

2248


What is 100% EOu? what is the benifit and what is difficulty of it?

2116


Explain valuation methods of Normal and Abnormal loss

2042


i have need full detail of tds rules and forms submitted dovetails

2025


how enter service bill in the tally and what is the process of service bill. aganst service charge @ 10.3%, sercharge 2% cess 1%

2637


What is the definition of LOSS. Give the formula if any.

2140


Expand--------SOT

2311


what are the seven accounting rules

2112


proprietor pays the hotel expenses of foreign client by his icici bank credit card. and then he pays the credit card bill by canara bank current account. how to pass entries in tally for this secnario

1516