Golden rules of accounting
Answer Posted / sabiulah
personal A/c :debit the receiver
credit the giver
real A/c :debit what comes in
credit what goes out
nominal A/ : debit all expenditure and losses
credit all income and revenue
Is This Answer Correct ? | 0 Yes | 0 No |
Post New Answer View All Answers
how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
what is OTC derivatives and Depository Trust & Clearing Corporation (DTCC) ?
Questions asked for the post of Manager (Finance) in a Public Sector company Subject of group discussions for the post of Manager (Finance) in a Public Sector company
EXPAND___________NBW
payroll calculation procedure explain completely?
What is Home Loan Modification?
we can add the no. of increase in shares due to exercise of options,convertible debentures,warrants etc.Why diluted eps is calculated separately?
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
what is Calculation of Gross Profit Or Gross Loss?
SOUTH ATLANTIC OIL AND GAS INC.is a fraud company
what is controlership?
which Electrical items is Exciseible
KINDLY PROVIDE ME RBI OFFICER SCALE B QUESTION PAPER (PREVIOUS)
Upto what age PF will be deducted for an employee? And what age he is eligible to gratuity?
HOW MANY ACCOUNTING STANDARDS ARE PREVAILING IN INDIA AS DECLARED BY ICAI