Answer Posted / anagha bavikar

PERSONAL ACCOUNT:

Debit the recevier
Credit the giver.

EXAMPLE:

Sundry Creditors A/C DR
To Cash/Bank A/C

REAL ACCOUNT:

Debit what comes in
Credit what goes out

EXAMPLE:
Cash A/C DR
To Bank A/C

NOMINAL ACCOUNT:

Debit all expenses or losses
Credit all incomes or gains

EXAMPLE:

printing & Stationery A/C DR
To Cash / Bank A/C

Tell me do you think accounting standards are mandatory and why?

1061

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What is cotangent Account?

1976

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Is it compulsary to give TOEFL for applying US visa.

2034

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What are mis reports and do you prepare it?

1019

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What is the use of accounting?

1052

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Tell me deferred taxation is a part of which equity?

958

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please inform me , how to make employee ladger account of salary...please inform me with entry..e.g if we give 14000 salary, as structure we put it half amount in advance and half is salary so in this case how to make entry in employee ledger account...please inform me...both things..Thank You.

4853

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What are depreciation and amortization?

1058

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Expenses which are incured during the manufacturing are direct expenses.In that case,what are the direct expense in a trading firm where there is no production.Like salary, rent, electricity etc in a trading firm

2522

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What is the difference between Open Items and Reconciling Items on a Balance Sheet Reconciliation?

8695

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Tell me whether the account “cash” will be credited or debited, when a company pays a bill?

1013

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Describe yourself briefly why you are outstanding for this post "Finance Coordinator"?

2172

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What is the difference between cost accounting management accounting and financial accounting?

1012

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My question is that can i taken input credit of service tax of telephone bill & courier bill & labour contractore bills in exemption Area.

1811

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what is the entry for toll gate fee

8008

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