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Answer Posted / raghava kumar.i
salary is the nominal acount.because debit all expenses and
losses.salary's is the expenses for the business.
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Suppose My received Interest Income is 24934.59 And for the same time my Bank Charge total is 7785.19. Now the total Bank Charge will be deducted from Interest Income and the amount of (24934.59-7785.19)=17149.40 will be withdrawn to deposit in govt. Account.What will be the Journal Entry for 17149.40. Here, Already Bank Charge 7785.40 is Already Debited and 24934.59 is already credited in Journal.
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Hello to every body ... Its not its not a interview question In accounting field can we make Money ?
