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A debit is an accounting entry that either increases an asset or expense account. Or decreases a liability or equity account. It is positioned on the left in an accounting entry.
A credit is an accounting entry that increases either a liability or equity account. Or decreases an asset or expense account. It is positioned on the right in an accounting entry.

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Sahil Singh 23 hours ago

🤔🙂

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Nancy Dewangan 1 day, 2 hours ago

Credit is the right side of an account. Debit is the left side of an account

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Gud 😔 divya aati h kya is group me

Posted by ♥Sona ♥... 2 days, 1 hour ago

CBSE > Class 11 > Accountancy

5 answers

Sahil Singh 2 days, 1 hour ago

What r u doing n u also belong from Haryana

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♥Sona ♥... 2 days, 1 hour ago

Yuup i know u

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♥Sona ♥... 2 days, 1 hour ago

Yes

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Sahil Singh 2 days, 1 hour ago

U know me

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Sahil Singh 2 days, 1 hour ago

Don't know

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Please reply Every time there will be choice between question from retirement and admission of partner in long question

Posted by Pardeep Kaur 2 days, 2 hours ago

CBSE > Class 11 > Accountancy

1 answers

Sobit . 23 hours ago

Yes

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2014 May 1 Balance of cash in hand Rs. 15,600; Overdraft at bank Rs. 7,400 2 Further capital introduced Rs. 30,000, out of which Rs. 25,000 deposit into bank. 3 Purchased goods on credit from Mohan of the list price of Rs. 15,000. Out of this amount he allowed us a trade discount of 20% 6 Settled the account of Mohan by paying cash Rs. 11,600 8 An amount of Rs. 2,500 due from chaturvedi & Sons written off as bad the previous year, now recovered. 10 Cashed a cheque for Rs. 7,500, 14 debts in Drew from bank for household expenses Rs. 3,000 and for income tax Rs. 800 Received Rs. 500 from sale of old chairs. 15 20 Received from X on behalf of Y Rs. 2,200. Discount allowed Rs 100 22 Received a cheque from Naresh RS. 4,210 in full settlement of his account of Rs. 4,400, 25 Cheque received from Naresh sent to bank 26 Sagar Chand, who owed us Rs. 10,000 became bankrupt and paid us 40 paisa in a rupe. 28 Received repayment of a loan of Rs. 3,600 and deposited out of it Rs. 2,000 into the bank Cheque received from Naresh dishonored, bank debited Rs. 20 as bank charges. Interest debited by bank Rs. 650. Deposited with the bank the entire amount after retaining Rs. 5,000 at office.

Posted by अRpiत शुKला 2 days, 3 hours ago

CBSE > Class 11 > Accountancy

1 answers

Vansh Kashyap 2 days, 2 hours ago

****

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FULL FORM OF GAAP

Posted by Seraj 😊😊The Unique😎😎 Boy 2 days, 7 hours ago

CBSE > Class 11 > Accountancy

4 answers

Manisha Dhibar 1 day, 10 hours ago

Generally Accepted Accounting Principles

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Seraj 😊😊The Unique😎😎 Boy 1 day, 11 hours ago

Koi na

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Saloni.. 🧚‍♂️💔 2 days, 5 hours ago

Generally Accepted Accounting principles...sorry accounting likhna yaad nhi rha..😔

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Saloni.. 🧚‍♂️💔 2 days, 5 hours ago

GAAP- Generally Accepted Principles...🙂

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jan 1 cash at bank Rs 5000,cash in hand Rs15000. Jan 2 Goods purchased and paid by cheque Rs 15000. Jan 5 Goods sold Rs 20000 amount received by cheque and cheque send to bank. Jan 6 Amount paid to ram by cheque Rs 3000. Jaan 8 cash received from mohan Rs 1000. Jan 10 salary paid Rs 5000. Jan 12 Commission Received by cheque Rs 2000, send to bank. prepare Double column cash book.

Posted by Shivi Singh 4 days, 9 hours ago

CBSE > Class 11 > Accountancy

1 answers

Sahil Saharan 9 hours ago

TO BAL. B/D = CASH 11K AND BANK 9K

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Which qualitative characteristics of accounting information is reflected when an accounting information is clearly represented ? A. Understand ability B . relevance C . comparability D . reliablity

Posted by Shaima Syed 4 days, 11 hours ago

CBSE > Class 11 > Accountancy

3 answers

Manisha Dhibar 2 days, 11 hours ago

Understandability

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Payal Jain 4 days, 11 hours ago

Understandability

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Gaurav Seth 4 days, 11 hours ago

Understandability is the concept that financial information should be presented so that a reader can easily comprehend it.

Adherence to a reasonable level of understandability would prevent an organization from deliberately confusing financial information in order to mislead users of its financial statements.

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Mohan started a business on 1st April,2014 with capital of 10 ,000 and borrowed 3,000 from a friend .He earned a profit of 5,000 during the year ended 31st March,2013 and withdrew cash 4 ,000 for private use .what is his capital on 31st March 2015?

Posted by Manisha Dhibar 4 days, 22 hours ago

CBSE > Class 11 > Accountancy

1 answers

Sobit . 23 hours ago

9000

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(a) Explain any two objectives of Preparing Trial Balance . (b) What are Contra Entries ? When these entries are opened ?

Posted by Sonal Kumar 5 days, 7 hours ago

CBSE > Class 11 > Accountancy

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On 1st April, 2014, Veeru Ltd. purchased a machinery for Rs. 2,50,000 and spent rs. 50,000 on its installation. On 1st July, 2016 1/3rd of machinery purchased on 1st April, 2014 was sold for Rs. 15,000 and a new machinery at the cost of Rs. 2,00,000 was purchased on the same date. The com-pany has adopted the method of providing depreciation @ 15% p.a. on straight line method.

Posted by Shweta Singh 5 days, 9 hours ago

CBSE > Class 11 > Accountancy

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In which book of original entry, a discount of Rs. 50 offered for an early payment of cash of Rs. 1050 be recorded

Posted by Palak Singh 6 days, 1 hour ago

CBSE > Class 11 > Accountancy

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2. The uniform set of rules which ensure uniformity and understandability is known as ……………..

Posted by Suraj Kumar 6 days, 6 hours ago

CBSE > Class 11 > Accountancy

2 answers

Seraj 😊😊The Unique😎😎 Boy 2 days, 7 hours ago

Gaap

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🌈 S. S. 🌈 6 days, 6 hours ago

Accounting principles

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Name the different special purpose books and state the types of transportation recorded in each one of them.

Posted by Bhuban Gogoi 6 days, 7 hours ago

CBSE > Class 11 > Accountancy

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Different between With Adjustment and Without Adjustment

Posted by Shruti Sharma 6 days, 10 hours ago

CBSE > Class 11 > Accountancy

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NUMERICAL EXAMPLES Example 8. Prepare the Balance Sheet of M/s Mahaveer Brothers on 31st December, 2016 from the following particulars in Horizontal Form and Vertical Form Building 50,000, Machinery * 30,000, Bank overdraft 5,000, Bills Receivable 3,000, Closing Stock * 4,000 Drawings * 2,500, Creditors 8,000, Debtors 12,000, Cash in hand * 3,000, Bills Payable * 2,000, Net Profit 16,000, Furniture 1,500, Capital 375,000

Posted by Shruti Sharma 6 days, 10 hours ago

CBSE > Class 11 > Accountancy

1 answers

Tahir Hussein 6 days, 9 hours ago

Cash book 11 class ke full solutions

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Purchase building anf furniture for 100000

Posted by Mrfardeen Khan 6 days, 11 hours ago

CBSE > Class 11 > Accountancy

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Employees of z.ltd went on strike and accountant of z.ltd recorded this loss

Posted by Anushka Rao 1 week ago

CBSE > Class 11 > Accountancy

1 answers

Aashish Bansal 6 days, 13 hours ago

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What is journal proper?🤔

Posted by Saloni.. 🧚‍♂️💔 1 week ago

CBSE > Class 11 > Accountancy

1 answers

Meghna Thapar 1 week ago

Journal proper is book of original entry (simple journal) in which miscellaneous credit transactions which do not fit in any other books are recorded. It is also called miscellaneous journal. The form and procedure for maintaining this journal is the same that of simple journal. Books with original entries used for miscellaneous credit transactions that do not fit into other recorded books. The journal is maintained like a simple journal to record opening entries, closing entries, transfer entries, adjustment entries, rectification entries, and rare transactions.

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Ridhima commenced business with cash rupees 100000 and bank balance rupees 70000 what will be accounting equation

Posted by Jatin Moudgill 1 week, 1 day ago

CBSE > Class 11 > Accountancy

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January 1 cash in hand 6000 rupees Bank balance

Posted by Aniket Kumar Prajapat Kumar Prajapat 1 week, 1 day ago

CBSE > Class 11 > Accountancy

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Cash in hand Bank Balance (cr)

Posted by Aniket Kumar Prajapat Kumar Prajapat 1 week, 1 day ago

CBSE > Class 11 > Accountancy

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Record the following in brs as per the cash book . Bank collected a cheque of rs 500 on behalf of you but wrongly credited it to another customer

Posted by Arsh Sinha 1 week, 2 days ago

CBSE > Class 11 > Accountancy

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What is meaning of from?

Posted by Priyanshu Parmar 1 week, 3 days ago

CBSE > Class 11 > Accountancy

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Give differenc between ledger and journal

Posted by Priyanshu Parmar 1 week, 3 days ago

CBSE > Class 11 > Accountancy

2 answers

Yogita Ingle 1 week, 2 days ago

Journal	Ledger
It is the original book	It is the book of final entry
It is the book for chronological order entry	It is the book for analytical record entry
It is the book of source entry which has greater legal evidence	It has lesser legal evidence
Transaction is the basis of classification of data within the journal	Account is the basis of classification of data within the ledger