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Education and Career Forum
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| 18th July 2015 12:54 PM | ||
| Education15 |
Re: What is the difference between credit and debit? Main differences between debit and credit are following:- * Debit is what you pay and credit is what somebody else pays for you. * Debit is money removed from an account and credit is deposited. * Every transaction has a debit and an equal credit. In accounting, basically debit means left and credit means right. As we know there are three types of accounts in which debit and credit are different: <REAL ACCOUNT debit what comes in and credit what goes out. <NOMINAL ACCOUNT Debit all expenses and losses, credit all incomes and gains. <PERSONAL ACCOUNT debit the reciever and credit the giver |
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| 18th July 2015 01:28 AM | ||
| ganiebizer |
Re: What is the difference between credit and debit? Credit and Debit ;---- These are two words which we naturally hearing regarding bank sector Difference between them ::--- Credit - example : withdrawing money from the savings account .. Debit : Depositing the money to the accounts.. For example .... You bought Refrigerator cost - 25,000 Debit - 25,000 which is deposited for refrigerator Credit - 25,000 payment for the product I hope you got it ... |
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| 17th July 2015 02:12 PM | ||
| Unregistered |
Re: What is the difference between credit and debit? why is it found on both sides either on debit or credit. Is it when we receive things it goes to debit and we give it goes to credti |
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| 2nd July 2013 12:59 AM | ||
| Unregistered |
Re: What is the difference between credit and debit? Quote:
Thank you very much! |
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| 1st May 2013 03:08 AM | ||
| Unregistered |
Re: What is the difference between credit and debit? Explain to me please whats the debit side and the credit side in this case were Mr Bongile rendered a service for cash to a clientt for the amount of R60 000... |
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| 15th April 2013 10:29 PM | ||
| Unregistered |
Re: What is the difference between credit and debit? explain the difference between debit n credit? |
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| 12th January 2013 07:04 PM | ||
| Unregistered |
Re: What is the difference between credit and debit? there is a sum credited to a particular account of mine, what does that mean |
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| 26th June 2012 12:16 PM | ||
| Unregistered |
Re: What is the difference between credit and debit? what is outstanding expenses and outstanding income? |
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| 11th May 2012 12:28 PM | ||
| Unregistered |
Re: What is the difference between credit and debit? What s the difference between Journal and Ledger ? |
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| 21st January 2012 05:36 PM | ||
| poisondart |
Re: What is the difference between credit and debit? Quote:
DEBIT is a record of an indebtedness; specifically : an entry on the left-hand side of an account constituting an addition to an expense or asset account or a deduction from a revenue, net worth, or liability account. Example 1: Purchase of a land for business operation: Dr. Land (increase in asset) Cr. Cash and/or Accounts Payable (decrease in asset) Example 2: Purchase of building in exchange for shares of Stocks Dr. Building (increase in asset) Cr. Subscribed Capital Stock (increase in capital) Example 3: Full payment of Charged Purchases of Goods Dr. Accounts Payable (decrease in liabilities) Cr. Cash or Cash in Bank (decrease in assets) Credit is otherwise. CREDIT, in accounting, is an accounting entry system that either decreases assets or increases liabilities; in general, it is an arrangement for deferred payment for goods and services. |
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| 21st January 2012 03:53 PM | ||
| Shivam.Tiwari |
Re: What is the difference between credit and debit? Credit is that which goes in a particular account whereas Debit is that which comes out from a particular account. |
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| 21st January 2012 02:14 PM | ||
| Sharma sujeet |
Re: What is the difference between credit and debit? Difference Between Debit and Credit : --------------------------------- In accounting, debits and credits are financial transactions and there are lots of Difference Between Debit and Credit. >> Debit what comes in and Debit what goes Out. >> Debit the Receiver and Credit the giver In Other way, If you deposits money in your bank account, then it shows as credit in your account. On the other hand, debit takes place when you withdraws money or issues check to another person or party. For Example : If you bought a car for Rs 300,000 Then you can make a entry as : CAR A/c........................Debit (300,000) Cash A/c.................................Credit (300,000) Difference Between Debit and Credit : --------------------------------- >> Real Account : Debit What Comes In Credit What Goes Out >> In Nominal Accounts : Debit All Expenses And Losses Credit All Incomes And Revenues >> In Personal Accounts : Debit The Receiver Credit The Giver |
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| 21st January 2012 01:01 PM | ||
| rahul k |
Re: What is the difference between credit and debit? Quote:
--------------------------------- In accounting, debits and credits are financial transactions and there are lots of Difference Between Debit and Credit. >> Debit what comes in and Debit what goes Out. >> Debit the Receiver and Credit the giver In Other way, If you deposits money in your bank account, then it shows as credit in your account. On the other hand, debit takes place when you withdraws money or issues check to another person or party. For Example : If you bought a car for Rs 300,000 Then you can make a entry as : CAR A/c........................Debit (300,000) Cash A/c.................................Credit (300,000) Difference Between Debit and Credit : --------------------------------- >> Real Account : Debit What Comes In Credit What Goes Out >> In Nominal Accounts : Debit All Expenses And Losses Credit All Incomes And Revenues >> In Personal Accounts : Debit The Receiver Credit The Giver |
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| 20th January 2012 08:00 PM | ||
| Unregistered |
What is the difference between credit and debit? what is the difference between credit and debit...please tell me what is the differece |
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