can any one help me to understand what is debit and credit

Dear sir/Madam

Please let me know whether advance amount paid in foreign currency in respect of fixed asset purchase as balnce sheet date is to be restated as monetary item or non monetary item.

Thanks for prompt reply .

Sir,
Whether there is any difference in the accounting proceedure of sales return from registered and unregistered customer for a supplier. if there is any difference would you kindly explain the proceedure of the sales return from an unregistered customer.

Dear All,

If on 31/03 we made a provision of Rs. 3,00,000 based on actuary report, we will pass following entry in books of account.

Gratuity A/c Dr. 3,00,000
to Provision for Gratuity 3,00,000

now, suppose we need to make payment of Rs.8,00,000 towards gratuity, what entry we will pas?????

dear sir/madam,
in our company balanace sheet suspense account shows debit balance.our company is mfg.unit of construction chemicals.plz give me solution how to adjust d same.

Please advice me the treatment of application money pending allotment. Also intimate me the correct head under Schedule VI where the same should be shown.

If a person is proprietor of a firm and he shows all his acquired assets e.g.residential house, in his balance sheet of business, can he include the inherited assets e.g. property and cash in the balance sheet. If yes, what should be basis of valuation of property to show the value of property in the balance sheet.

Dear Expert

Salary is paid at in the beginnin of the month but entry was not passed. Please tell how will we record this particular transaction

Sir,
One of pvt ltd company(a) taken unsecured loan from person(B). B is taken the same amt from individuval (c). The interest on unsecured loan directly pay to 'c' by 'a'.
In the books of accounts in compnay loan is in the name of 'b'. The problem is Which I can deduct the TDS and whom to issue? Pls clarify. What entries can do?

Thanking you,

Dear all,

I purchased one machinery (fixed asset) worth 5,00,000 for establishing this machinery the following expenditure occured
1)traveling :12000
2)Porter charges 2000
3)Coffee Tea charges 200
4)Establishment charges 20000
5)Other Mis charges 3000

these all expenses can i add to machinery cost if yes Please tell me the entry

please explain