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
PRACHI AGARWAL
(Expert)
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.
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