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Q. Show Debit and Credit column?
- Debit column. In the debit column the sum of the debit is on the same line as the title of the account debited.
- Credit column. In the credit column the sum of the credit is on the same line as the title of the account credited.
Q. What is credit balance? If on the other side the sum of the credits exceeds the sum of the debits the account has a credit balance. For example assume that a company has an
find cost of goods sold
Why to and by using in journal, trading a/c, p&l a/c and ledger?
The use of ledger accounts A journal entry is similar to a set of instructions. The execution of these instructions is known as posting. Since stated earlier posting is recordi
Q. Transactions affecting only the balance sheet? Since every transaction affecting a business entity must be recorded in the accounting records analyzing a transaction before
what is meant by credit note
difference between credit and debit
at the end of May he has a voucher for expenditure of $270 and a balance in hand of $30. explain what the imprest amount is
Notes to financial statements
The analysis focused primarily on the role, structure and funding arrangements for the International Accounting Standards Board (IASB), an entity that has been responsible for majo
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