a account has debit balence.what is the meaning?

Answer Posted / rama chandran

An account depends on income or assets, the debit side of such account will be profit or income earned. if it is an expense or liability, it is a loss or expense occurred.

Is This Answer Correct ?    0 Yes 2 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

what are the payroll procedures?

1777


My balance sheet is tallied. But there is a difference of RO 1 in cash flow. How to adjust ?

1553


define holding company,public company, if the compnay be a public company what will the criteria? asked on 30/7/09

1733


what are the uniform public construction cost accounting act procedures?

1536


how u can control stock movments....like issuing raw materials receiving...in practical way..basically in ,y org we r using bin cards,barcodes etc but somehow need more concentration... help me frds..

1524






HOW TO MAINTAIN BANK A/C

1637


What is Home Loan Modification?

1736


what is account & what is finance

1758


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.

1613


explain the difference between LIFO and FIFO?

734


what is the meaning of call in arear

1997


If i want to establish a company in which i want to manifacture and sell the Wine. So how many permissions i have to taken and who will issue those?

1689


You are given the following information in respect of a company: Fixed cost –Rs.13,000 Variable cost –Rs.14,000 Net profit –Rs.3,000 Net sales-Rs.30,000 Find out: a>BEP b>The profit for sales volume of Rs.50,000 c>The volume of sales to make a profit of Rs.10,000

1485


Expand---------PDCB

1526


Short Answer on _____________Accident Insurance

1351