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what is golden accounting rules
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Answer / yoga
The Golden of Accounting is
1.Personal a/c debit the reciver credit the giver,
2.real a/c debit wat comes in credit what go's out,
3.naminal a/c debit all expensess and loss credit all
income and gains
| Is This Answer Correct ? | 18 Yes | 0 No |
Answer / sanjaya kumar parida
golden rule is the general rules for posting the transaction
in the book of account.there is a specific rules for
personal,real and nominal account.such as
for personal-dr the receiver and credit the giver
for real-debit what comes in and credit what goes out
for nominal-debit all expenses and losses where as credit
all income and gain.
| Is This Answer Correct ? | 5 Yes | 0 No |
1.DEBIT ALL EXPENSES LOSSES CRRDIT ALL GAINS AND PROFIT
2.DEBIT WHATS COMES IN CREDIT WHATS GOES OUT
3.DEBIT THE RECEIVED CREDIT THE GIVER
| Is This Answer Correct ? | 3 Yes | 0 No |
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Alex’s Trial Balance at 31 December 2015 Dr (BWP) Cr (BWP) Capital 18 240 Bank overdraft 3 000 Fixtures and fittings 14 100 Provision for depreciation-fixtures and fittings 8 800 Inventory 14 200 Trade receivables 12 300 Trade payables 9 900 Revenue 110 000 Purchases 51 000 Discount received 1 800 Wages and salaries 26 000 Sundry expenses 34 000 Discount allowed 620 217 540 ======= 86 420 ======== Required: i Prepare the corrected trial balance at 31 December 2015. (7 marks) ii Show any difference you find as a balance on an appropriate account.
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