Answer / neeraj garg

1. Debit to receiver
Credit to giver

2. Debit what comes in
Credit what goes out

3. Debit All Exp /Loss
Credit Income/Gain

Answer / aravind

1.personal account
debit the receiver
credit the giver
2.nominal account
all expence and loses debit
all incomes and gains credit
3.real account
what comes in debit
what goes out credit

Answer / bhavya

There 3 basic rules in Accounting

1.Real Account
what comes in Dr
what goes out Cr

2.Personal Account
The Reciver Dr
Giver Cr

3.Nominal Account
All Expenses Dr
All incomes Cr

Answer / blueskywheel

Rule 1: Total asset= Total liab + owner's Equity

Rule 2: Debit: all exp & loss
Credit: all income & gain

Rule 3: Total of debit side = Total of credit side

Answer / vinotha.v

Personal A\C

Receiver a\c Dr
Giver a\c Cr

Nominal A\C

All expenses & loss a\c Dr
All income & gain a\c Cr

Real A|C

What comes in a\c Dr
What goes out a\c Cr

Answer / sonali

Basic rules in Accounting

Personal Account:
Debit Receiver of the benefit
Credit Giver of the benefit
Real Account:
Debit What comes in
Credit What goes out
Nominal Account:
Debit all expenses and losses
Credit all incomes and gains

Answer / sunita

There are three basic rules in accounting

Real Account: what comes in--Dr
what goes out-----Cr

Personal Account:the receiver--Dr
the giver--------Cr

Nominal Account: All expenses and losses--Dr
All income and gains-------Cr

Answer / pushpendra

for personal account
debit to receiver
credit the giver


for real account
debit what comes in
credit what goes out

for nominal account
debit all exp/losses
credit income/gain

Answer / rahul

Personal Accounts :All the personal A/c as ramesh A/c, raj
A/c are included . A person who takes debited and a person
who gives credited
Real Accounts: All the real A/c as fixed assets which is
real in nature are included inwhich whatever comes in
debited and watever goes out credited
Nominal A/c : In the nominal A/c all the Expenses & loss IS
debited and all the incomes and gains is credited

Answer / md. rasheed

1)Capital=Assets-liabilities
2)Debit side should be equal to credit side
Debit all exp&loss and credit all incomes and gains
3)Increase in debit should not be equal to credit

Expand MNS

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At Present Situation in sensex market is low, It converts the whole human being life into the depth. When and how it will change? Is it possible?

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what is the service tax ?

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expand-------TSR

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asked about project work done in mba

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Can you please help me calculate the pre tax profit for credit card for 2014 using the following Assumptions. Request you to list the steps used. Charges Late fee £12 per occurrence Over limit fee £10 per occurrence Cash fees 3% of cash withdrawal value Annual Fee £25 per account, per year Interchange 1% of transaction value KPIs Accounts overdue 10% per month Accounts over limit 15% per month Average APR 30% Balances revolving 90% of balance Average balance £900 at end of 2013 Expected growth in average balance (2014) 10% per annum Assumptions Open accounts 200,000 at 2013 year-end New accounts booked 5,000 per month Annual operating cost £50 per open account Cost of Acquisition £50 per account Provision rate 9% of total balances Annual cost of funds 4% by balance Charge off Unit charge-off rate in 2014 11% of accounts at 2013 year-end Unit charge-off rate in 2014 0% of accounts booked in 2014 Post charge-off recoveries 20% of balance Account Transactions Monthly turnover 5% of total month end balances Cash advances 20% of monthly turnover Additional Assumptions Please state any additional assumptions you have made to calculate your answer Thanks in advance,

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Are WCT applied on Labour supplied contractos ? If yes what percent

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what is the difference between Tally ERP and SAP FI ECC?

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Why the closing stock will not appear in the Trial Balance?

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Whats the difference between accounting concepts and conventions?

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If an overpayment (more than was paid) was posted on a statemnt, can I just make a debit note on the account with the difference? Example Customer had to pay me R 10 000 Payment on his statment was passed for R 15 000 Can I make a debit note with the dif of R 5 000, to rectify the account for the specific month?

1 Answers