Answer Posted / deepak

Actually, in whole world there are only 3 accounts
that is
1 Personal A/c : are those acs which are related to person

2 Real A/c: which are related things which we can touch,
see, but it doesnt have life eg: cash, car, bank, mobile

3 Nomainal A/c: which are those which we cannot see, but
we can feel but doesnt have life eg: commission,
discount,salary, rent etc.

for this there are rules which is called as golden rules of
accounts

Personal A/c : Debit the receiver
credit the giver
Real A/c: Debit what comes in
credit what goes out
Nominal A/c: Debit all expenses and losses
credit all incomes and gains

EXPAND___________NBW

1952

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What are the question asked for accounts associate

988

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What is the difference between payable and accrual

2000

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What do we mean by the term "Securities" when we say that "Govt injecting/sucking liquidity in/out of the system by buying/selling securities?

2164

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You use the accounts approach for parallel valuation in a new G/L system. If you used the ledger approach instead. Which objects would be different? ( any 3 answer) Chart of accounts Financial statement version Depreciation areas Asset classes Leading ledger

3491

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What are the accounting conventions and Practices?

2256

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How Many Points include in Mat Calculation , what is the different bitween Gross Profit & Book Profits?

2558

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Q13. Journalise the following transactions: Proprietor withdrew for private use Rs.4000/- from bank and 6000/- cash. Goods Costing Rs.5000 was burnt by fire. Purchase Machinery for cash Rs.150000/- and paid Rs.2000/- on its Installation. Charge 5% Depreciation on building costing Rs.200000/- and 8% Depreciation on Furniture costing Rs.5000/-. Prepaid Salary Rs2000/- Kapil who owed us Rs20000/- become insolvent and nothing is received from his estate.

3079

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Short Answer on _____________Accident Insurance

1831

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What is back value adjustment/correction in Nostro Reconciliations?

7741

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What is combination?

2188

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commisiion recieved journal entry and receipt required

1516

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what amounts to appropriation of profits? When provision for taxation does not amount to appropriation of profits?

2291

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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

2171

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please provide wct retun guide line how can prepaire that

2500

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