Interested to Buy Any Domain ? << Click Here >> for more details...
Answer Posted / aijaz
When business sells/provides goods or services for cash,
Cash A/c has to be debited because cash is coming in. Rule
of Real A/c : Debit what comes in.
When business occurs expenses/losses, it has to be debited.
Rule of Nominal A/c : Debit all expenses & losses.
When business sells/provides goods or services on credit,
the person/firm has to be debited as the person/firm is
receiving goods or services, so the the person/firm is
receiver. Rule of Personal A/c : Debit the receiver.
| Is This Answer Correct ? | 6 Yes | 0 No |
Post New Answer View All Answers
6. Your grandfather is 75 years old. He has total savings of Rs.80,000. He expects that he live for another 10 years and will like to spend his savings by then. He places his savings into a bank account earning 10 per cent annually. He will draw equal amount each year- the first withdrawal occurring one year from now in such a way that his account balance becomes zero at the end of 10 years. How much will be his annual withdrawal?
Explain an example of a tough decision you had to make quickly?
Tell us in balance sheet, where do you show tds?
Explain what is liabilities and what all does include in current liabilities?
payment voucher for advance salary
What is BRS Adjustment entry?
what is difference among credit, loan, advance
Sir, I want to know about Entry Tax. I purchased the Packing Box from other state.the entry tax on the packing items is 5 %.but now sale tax deptt. close the entry tax on barrier. the tax will be deposited with return. sir we want to know can i deposit this entry taxon on CST challan or not. if not then how can i deposit, or which cloumn in return shown this amount. please send the return format my mail ID is happynlg@gmail.com
what is wct ? who take its benefit? e.g. we are works contractor, we are liable to take its benefit or not..
What is mis report , how to prepare mis report for general ledger?
What are the important things to be remembered while preparing a bank reconciliation statement?
What are the objects of cost accountancy?
What is difference vat
When you prepare Profit and loss A/C either you will get profit or loss but not both.Then why we are saying it as profit AND loss A/C,why cannot we say it is as Profit OR loss account?
what is profitability ratio and dividend policy ratio
