Interested to Buy Any Domain ? << Click Here >> for more details...
Why is Interest A/c debited and Bank a/c credited when
interest is charged by the bank??
Here I assume Its an expenses so interest is debited but I
don't understand why bank is credited?? Bank is a personal
account. Please explain this doubt?
- 2 Answers
- 4153 Views
- I also Faced
- E-Mail Answers
Answer Posted / tripti sen
1.bank is real a/c and company a/c in bank is a personal a/c
2.now let i clear u rules of real account and personal ac
real a/c:- debit was come& credit was goes out
personal ac :- debit the receiver & credit the giver
In the book of bank:
Interest a/c..........Dr
To company or party a/c
| Is This Answer Correct ? | 1 Yes | 0 No |
Post New Answer View All Answers
what are the processes of account reconcillation
Why companies are issuing their shares at premium and discount? What benefits the companies and the investors can get in both the cases?
WHAT IS THE DIFFERENCE BETWEEN ESTIMATED BALANCE SHEET & PROJECTED BALANCE SHHET
What do you mean by gaap in accounting?
What is the use of form D in sale tax
what is the nature of profit and loss approprition account.which entity prepare this.
What are the items that are to be debited in accounting and what are the items that are to be credited in accounting?
what is gl a/c? & why is it maintain
WHAT ARE THE DIFFICULT ELEMENT OFF JOB
we have received amount from others through debit/ credit cards. what is the ledger group of this? i am confused selecting the ledger group could you explain.
Accounting transactions are recorded in accordance with thier legal form or substance. Briefly explain the legal form and substance of the accounting transactions and give one relevant example.
When Iam entering sales in Tally ERP 9, It Is not reflecting in the stock, Why itt is happends like this ? I entered sales with delivery note Number, So think that is because it is not reflecting in Stocks, and when iam checking in the stocks its saying negative stock
How do you maintain accounting accuracy?
Explain which account is responsible for interest payable?
Hi I would like to know what is journal entry for buying securities with Margin Trading I mean 50% of cost is paid by broker. 2nd question is when we withdraw extra money from the balance we have in bank account which means our balance become (-) what is journal entry for that, should I just credit the bank or should I put the extra money with-drawled as a liability account ? Thank you in advance!
