Interested to Buy Any Domain ? << Click Here >> for more details...
Examples each for golden rules of accounting
- 31 Answers
- 201019 Views
- ABC, Accenture, BSNL, DELL, General Insurance Corporation, Genpact, IBM, Microsoft, Wipro, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
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 ? | 1521 Yes | 59 No |
Answer / sunil jadhav
Salary of the employeeis not real a/c nor personal a/c it
is nominal a/c.
| Is This Answer Correct ? | 947 Yes | 97 No |
Answer / sridhar k
1. Personal Account
Sundry Creditors A/c Dr.
To Cash/Bank A/c
( Payment for Purchase of Goods )
2. Real Account
Cash A/c Dr
To Bank A/c
( Cash Withdrawn from Bank )
3. Nominal Account
Printing & Stationery A/c Dr.
To Cash/ Bank A/c
( Purchase of Stationery Items )
| Is This Answer Correct ? | 785 Yes | 96 No |
Answer / venkatesan
Personal Account:- It is individual account
Real Account:- It is business using for asset purchase
Nominal Account: It is Rent, salary paid of exp. and
advance received
| Is This Answer Correct ? | 597 Yes | 39 No |
Answer / megharaaj
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 ? | 486 Yes | 33 No |
Answer / peyus
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 ? | 343 Yes | 29 No |
Answer / jayashree durga prasad
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 ? | 265 Yes | 29 No |
Answer / sangeetha g
Dear All,
Anyone can tell Salary what type of account? Real or
Personal a/c?
| Is This Answer Correct ? | 348 Yes | 263 No |
what s account
what use of form d and form h
What is the Corporate Tax, Minimum Alternate Tax, Professional Tax, Business Tax Describe Me
what is tds,pf and vat?
i need clarification about tds will be calculate before deductions or after deductions on gross salary+incentive
what is the diffrent between form-c and form 16
hi, M a fresher who started work in an event management firm as an accountant recently, and i don't know the head o tail of what to be done., worse part is its a small firm, and i have to learn everything on my own,:( so if anyone could guide me pllleeeeeesssssssseeeeeeee help... its really very urgent.. I'd be very grateful...
Prepaid insurance entry
I purchased a machine and finance it by bank with the amount 1900000 and bank apply the finance charge 440000 for 3 years finance how to pass this entry still machine value is 2200000 is finance charge is interest (indirect exp.) pls help me.
Who is lance Armstrong ?
How to make privision in SAP. (Please revert on the possibility of making this happen at PO Stage)
Tell me why some asset accounts have a credit balance?
Audit 
