CSS/pms Accountancy

09/04/2025

Redeemable preference shares are considered as long term debt.

09/04/2025

Bonus shares capitalise the equity reserves.

09/04/2025

Right shares can't be issued at discounted price as compared to nominal/face/par value.

09/04/2025

Bonus share can't be issued from revaluation surplus.

09/04/2025

Dividends can't be paid out of revaluation surplus.

02/02/2025

The Only one Rule of Dr and Dr..

The account which receives the value is Debited ( Dr.) and the account which transfers value is Credited (Cr.)

Examples

1) Paid $5000 into a Bank Account.

Here Bank Account received the value so Bank is debited and Cash Account transferred the value so Cash Account is Credited.

Bak A/C. 5000
Cash A/C. 5000

2) Received $ 750 as a dividend into bank account

Here Bank Account received the value so Bank is debited and Dividend Account Transferred the Value so Dividend is Credited.

Bank A/C. 750
Dividend A/C. 750

3) Paid Cash to Supplier Lilli $890

Here the Lilli account is receiving the so-so Lilli is Debited and Cash Account is transferring the value, so Cash Account is Credited.

Lilli A/C. 890
Cash A/C. 890

( It's the concept behind Dr and Cr. Only transferring of value)

If I'm wrong, Rectify me..

02/02/2025

Following are the temporary accounts in Accounting.

1) Expenses
2) Revenues
3) Gains $ Losses
4) Income Summary Accounts

02/02/2025

Following are the permanent accounts in Accounting.

1) Assets
2) Liabilities
3) Capital/Equity

21/01/2025

Which accounts are known as permanent accounts?

18/09/2023