Journalising
This query is : Resolved
26 September 2011
I want to know when we making journal entry which account to be credited and debited on which rule that is accounting equation or golden principle of accounting
further i have doubt how to analyse a ledger account
further i have doubt how to analyse a ledger account
CA Pushpendra Gaur
(Expert)
26 September 2011
In case of Asset
Debit the account when it is increasing
Credit the account when the asset is decreasing
In case of Liabilty
Crdit the account when particular liabilty is incresing and Debit when the laibilty is decresing
In case of Expense
Debit the expenses when the expense is to be booked or increased
Credit the account when the expenses decreases due to any reason
In Case of Income
Credit the income when it is to be booked or increases and
Debit the Income account when the Income decreases or to booking is to be reversed
Debit the account when it is increasing
Credit the account when the asset is decreasing
In case of Liabilty
Crdit the account when particular liabilty is incresing and Debit when the laibilty is decresing
In case of Expense
Debit the expenses when the expense is to be booked or increased
Credit the account when the expenses decreases due to any reason
In Case of Income
Credit the income when it is to be booked or increases and
Debit the Income account when the Income decreases or to booking is to be reversed
26 September 2011
appears that not from Commerce stream, 3 accounts category: Real Account: Debit what comes in, Credit what goes out; Personal Account: Debit the Receiver,Credit the Giver; Nominal Account: Debit all expenses/losses, Credit all r incomes/gains.
Pl. be specific about analysing the Leger accounts-you need to understand and check the Trial Balance first.
Pl. be specific about analysing the Leger accounts-you need to understand and check the Trial Balance first.
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
Unanswered Queries
- Accounting treatment of AMC alongwith the purchase of Laptop
- Condonation Request sec 119(2) b -Enhancement Limit of Leave Exemption prior to AY 2023
- Unable to File TDS Q2 Return – New TRACES Portal Error
- Issuing of delivery challan by seller of goods
- Transfer of Physical Stock Between Two Proprietorship Concerns
- GST Treatment of Purchases with GST Paid where Outward Supplies of Manufactured CattleFeed Exempt
- Taxation of crypto futures in India Fy 2026- 2027
- Not ordinarily resident having partnership income in India and salary in USA is any form to filed be
- EPF ECR NEW RULES Sep 17th 2026
- Expert Help Required for TDS Refund 100000 Through TRACES – AY 2022–23
- IMPORT PURCHASE ENTRY PASSED IN BOOKS OF ACCOUNT
- FAST DS 26 Undisclosed Foreign Asset Disclosure Scheme 2026
- Regime change
- Goods sold but invoice not issued
- Tally: Imported bank entries do not show up in manual reconciliation
- Sales of goods of amount Rs97 lakhs to a party
- Confused About My Career After 12th — Cyber Security, AI or Finance? Need Guidance
- FAST-DS 2026 Under Tax Law - No recourse or support for person declaring via this scheme?
- Guidance Needed: Linking Multiple Form 26QB Payments and Responding to ITD Defaulter Notice
Trending Online Classes
-
DT & Audit (Exam Oriented Fastrack Batch) - For May 26 Exams and onwards Full English
CA Bhanwar Borana & CA Shubham Keswani
Subscribe to Pro
Join an elite circle of professionals
CAclubindia
