Interested to Buy Any Domain ? << Click Here >> for more details...
golden rules of accounting
- 2 Answers
- 5760 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / dharani
There are three types of accounts. Personal, Real, and
Nominal. For recording transactions and to categorise
whether it is debit or credit, golden rule is important.
Personal - Debit the Receiver & credit the giver.
Real - Debit what comes in & credit what goes out.
Nominal - debit all expenses and losses/credit all incomes
and gains.
| Is This Answer Correct ? | 14 Yes | 0 No |
Answer / adish jain
personal accounts ( dr. the receiver and cr the giver)
real a/cs ( dr. whats comes in and cr what goes out)
nominal a/cs (dr all expenses and cr all incomes
| Is This Answer Correct ? | 5 Yes | 0 No |
Explain the Invoice verification process
were you happy with the grades you achieved at a-level?
what do you mean by tds
What will be the journal entry for advance payments made to the other parties?
WHAT IS A CREDIT NOTE AND DEBIT NOTE IN RESPECT TO A TRADING COMPANY?
what will be the treatment of preliminery expenses if due to preliminary expenses being written off there results a loss?
Labour charge 100000 deduction tds 5%
if a sole proprietor pays his firms insurance policy , How it should treated in books of accounts? whether it should be treated as investment? or indirect expenses?or drawings?
what is wct ? who take its benefit? e.g. we are works contractor, we are liable to take its benefit or not..
How to set/ determine Credit limit of a customer in Manufacturing and Trading Business?
What is the purpose of a balance sheet?
What is finance lease? What are bonus Shares? entry for it. What is Depreciation? What is the Journal Entry? What is DPS? What is minority Interest? where it is shown?
Audit 
