Transactional Accounts Question:
Tell me what is debit, credit from the banks point of view?
Answer:
Credit what comes in, Debit what goes out.
1)
For personal a/c
receiver dr
giver cr
2)
Real a/c
assets dr
cash or bank cr
3)
Nominal a/c
exp dr
cash or bank cr
1)
For personal a/c
receiver dr
giver cr
2)
Real a/c
assets dr
cash or bank cr
3)
Nominal a/c
exp dr
cash or bank cr
| Previous Question | Next Question |
| What are the steps to define supplier? | What are the types of business transactions? |