Opening balance

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MAHADEV SINGH (Querist)
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12 September 2017 while fitting the opening balances what and all should consider only balancesheet of balancesheet and profit and loss account should consider

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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12 September 2017 Only balance sheet to be consider while feeding opening balance

MAHADEV SINGH

MAHADEV SINGH (Querist)
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14 September 2017 what is debit note and credit note can u able to explain. . . . . .?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 September 2017 Debit Note is issued by the purchaser, at the time of returning the goods to the vendor, and the vendor issues a Credit Note to inform that he/she has received the returned goods i.e if you sold the goods and the afterwards the buyer return the goods to you than you don't give him money rather you give him credit note of the same value & say him that the amount will be adjusted next time when he purchase the goods.

MAHADEV SINGH

MAHADEV SINGH (Querist)
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14 September 2017 What is debit balance and what is credit balance how. . . . . . .?

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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14 September 2017 Debit balance is positive balance i.e. Asset, Receivable whereas credit balance is negative balance i.e Liability, Payable

MAHADEV SINGH

MAHADEV SINGH (Querist)
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20 September 2017 What is debit balance and credit balance
in profit and loss account

Ashiwini Ballodia

Ashiwini Ballodia (Expert)
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20 September 2017 Debit Balance means Expense & Credit Balance means Income in Profit & Loss account