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Examples each for golden rules of accounting
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Answer / anagha bavikar
PERSONAL ACCOUNT:
Debit the recevier
Credit the giver.
EXAMPLE:
Sundry Creditors A/C DR
To Cash/Bank A/C
REAL ACCOUNT:
Debit what comes in
Credit what goes out
EXAMPLE:
Cash A/C DR
To Bank A/C
NOMINAL ACCOUNT:
Debit all expenses or losses
Credit all incomes or gains
EXAMPLE:
printing & Stationery A/C DR
To Cash / Bank A/C
| Is This Answer Correct ? | 51 Yes | 0 No |
Answer / jitendra more
PERSONAL ACCOUNT
DEBIT : THE RECEVIER (S.Creditor, Party)
CEDIT : THE GIVER (Cash or Bank)
REAL ACCOUNT
DEBIT : WHAT COMES IN (Cash/Cheque, Purchases, Receipts)
CREDIT : WHAT GOES OUT (Payments, Cash/Cheque, Sales)
NOMINAL ACCOUNT
DEBIT : EXPENES OR LOSS (Salary,commission,rent,etc)
CREDIT : INCOME OR GAINS (Interest recieved,commission
received, royalty received, etc)
| Is This Answer Correct ? | 41 Yes | 2 No |
Answer / dinesh kumar
1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)
2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)
3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)
| Is This Answer Correct ? | 33 Yes | 0 No |
Answer / vikash mishra
PERSONAL ACCOUNT
DEBIT : THE RECEVIER
CEDIT : THE GIVER
REAL ACCOUNT
DEBIT : WHAT COMES IN
CREDIT : WHAT GOES OUT
NOMINAL ACCOUNT
DEBIT : EXPENES OR LOSS
CREDIT : INCOME OR GAINS
| Is This Answer Correct ? | 33 Yes | 1 No |
Answer / n.pragatheeswaran
Used Golden Rules for depreciation
1. Depreciation A/c Dr = Rs:1000 ( Nominal A/c -Expenses & loss
Machinery A/c Cr = 200 ( Real A/c )
Furniture A/c Cr = 200 ( Real A/c )
Computer A/c Cr = 600 ( Real A/c )
| Is This Answer Correct ? | 27 Yes | 1 No |
Answer / d.s.bhavana
no no both are wrong.the salary is nominal account
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / venkatayya
A. Personal a/c: Debit the receiver
Credit the giver
B. Real a/c: Debit what comes in
Credit what goes out
C. Nominal a/c: Debit all expenses and losses
Credit all gains and incomes
| Is This Answer Correct ? | 15 Yes | 0 No |
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