What is Debit?
Download our app for free and get started
When an amount is entered on the left-hand side of an account, it is a debit and the account is said to be debited.
Download our appand get started for free
Experience the future of education. Simply download our apps or reach out to us for more information. Let's shape the future of learning together!No signup needed.*
Similar Questions
- 1View SolutionIf total assets of a business are ₹ 10,00,000 and capital is ₹ 4,00,000, calculate creditors.
- 2View Solution''Accounting Equation (A = L + C) always holds good under all circumstances''. Explain with the help of two examples.
- 3View SolutionGive the full form of IGST.
- 4View SolutionWhat is Ledger Folio or L.F.?
- 5View SolutionWhat are the types of accounts? Give two examples of each.
- 6View SolutionGive an example of a transaction which has effect on two items on the assets side.
- 7View SolutionWhat is the meaning of Ledger?
- 8View SolutionWhat is Journalising?
- 9View SolutionWhat is Credit?
- 10View SolutionState one situation when Capital Account is Debited and one situation when Capital Account is Credited.