Dr/cr
This query is : Resolved
27 January 2012
Sir,
What is credit & what is debit.
In assets & liablities ,which side debit comes n which side credit comes?
as well as P&L a/c/ Balance sheet /TRIAL BALANCE also.
PLZZ EXPLAIN ME IN DETAILED.....
THANX ALL IN ADVANCE
What is credit & what is debit.
In assets & liablities ,which side debit comes n which side credit comes?
as well as P&L a/c/ Balance sheet /TRIAL BALANCE also.
PLZZ EXPLAIN ME IN DETAILED.....
THANX ALL IN ADVANCE
02 February 2012
Debit = Assets, Expenses
Credit = Liabilities, Incomes
In balance sheet Liabilities sre on left and assets are on right side.
While in Profit And Loss as well as in Trial Balance debits are on left side these debits represent expenses and credits are on right side, these credits represent incomes.
Credit = Liabilities, Incomes
In balance sheet Liabilities sre on left and assets are on right side.
While in Profit And Loss as well as in Trial Balance debits are on left side these debits represent expenses and credits are on right side, these credits represent incomes.
Message likes :
1 times
You need to be the querist or approved CAclub expert to take part in this query .
Click here to login now
Click here to login now
Similar Resolved Queries
Unanswered Queries
- Applicability
- Is Aadhar PAN linking required for opening bank account?
- Where to show the RCM on Rent paid to unregistered landlord
- CPC Processing IT Return for AY 2023-24 without recognizing the Taxation Option under New Regime
- Application of 115BAC
- RCM - commercial rent paid to URP under GST
- Offsetting interest income against derivative trading losses
- TDS NUMBER SURRENDER
- GSTR-3B - Do I file nil when there is no sale but I've bought raw materials
- Legal heir raised refund , but refund issued to the closed account of deceased.
- Whether still royalty
- 20% OF DEMAND PAYMENT IN APPEAL
- Issue of gst e invoice
- Interchangeable words in accounts
- Adjusted profit/Loss in the case of LLP and Pvt. Ltd.company
- How to adjusted advances given or receipt
- Foreign vendor without PAN unable to to register due to non receipt of OTP on foreign number ?
- 133(6) DIN INVALID format error - ->WHERE TO REPLY 133(6) notice?
- Query for dubts
- Regarding Resignation by Auditor from Pvt. Ltd.
Trending Online Classes
-
Excel Mastery Program
CA Rishabh Pugalia
CAclubindia
