Table of Contents
Debit and credit meaning
Debit and Credit meaning
Debit?
Simply Debit refers to the left side of an account. If an account is to be debited, then the entry is posted to the debit side of the account. Debit word has been derived from the Latin word ‘debere’ which means “to owe“.
Or
Debit refers to the decrease in liability towards owners. There is a decrease in the liability of the owner due to an increase in property, expenses and loss and decrease in liability, capital and revenue, hence these are debited.
डेबिट का अर्थ स्वामियों के प्रति दायित्व में कमी से होता है। सम्पत्ति, खर्चोंं एवं हानि में वृद्धि और दायित्व, पूँजी व आगम में कमी से स्वामी के दायित्व में कमी होती है,इसलिए इन्हैं डेबिट करते हैं।
Credit?
Simply Credit refers to the right side of an account. If an account is to be credited, then the entry is posted to the credit side of the account. Credit word has been derived from Latin word ‘credere’ which means “to trust, entrust, believe”
Or
Credit refers to an increase in the liability towards the owners. Decrease in assets, expenses, and losses and increase in liability capital and revenue increase the liability of the owners, hence credit.
क्रेडिट का अर्थ स्वामियों के प्रति दायित्व में वृद्धि से होता है। सम्पत्ति,खर्चों एवं हानि में कमी और दायित्व पूँजी व आगम में वृद्धि स्वामियों की देयता में वृद्धि करती है, अतः क्रेडिट करते हैं।
Hence, it can be said that debit means a decrease in liability to owners and credit means an increase in liability to owners.
अतः यह कहा जा सकता है कि, डेबिट का अर्थ स्वामियों के प्रति दायित्व में कमी और क्रेडिट का अर्थ स्वामियों के प्रति दायित्व में वृद्धि है।
30 transactions with their Journal Entries, Ledger, Trial balance and Final Accounts- Project
Golden Rules Of Accounting MCQs with solved answers