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Golden rules of accounting..

Answer / yashwant

Real A/C- Debit whats comes in
Credit whats goes out

Personal A/c- Debit the receiver
Credit the giver

Nominal A/c- Debit all expenses and losses
Credit all incomes and Profit

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / vinod

personal account:debit the receiver
credit the giver
real account:debit what comes in
credit what goes out
nominal account:debit the expenses & loses
credit the income & gain

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / arvind karthi venkatesh

PERSONAL A/C : DEBIT THE RECEIVER
CREDIT THE GIVER

REAL A/C : DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT

NOMINAL A/C : DEBIT ALL EXPENSES & LOSSES
CREDIT ALL INCOME & GAINS

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / soumya sashidhar

Personal A/c:Debit the receiver
Credit the giver
Real A/c: Debit what comes in
Credit what goes out
Nominal A/c:debit all expences and losses
Credit all incomes and gains

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / e.sankar

PERSONAL ACCOUNT: DEBIT THE RECEIVER
CREDIT THE GIVER
REAL ACCOUNT : DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNT : DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / amit singh rawat

personal accounts:-
Debit the ricever and credit the giver.

Real accounts:-
Debit what's comes in and credit what's
gose out.

Norminal accounts:-
Debit all Expenses and Losses And Credit
all Income and Gain.

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / banajit haloi

Personal a/c-- Debit the Receiver
Credit the Giver.

Real a/c--Debit what comes in
Credit what goes out.

Nominal a/c--Debit expenses or losses
Credit gains or incomes.

Is This Answer Correct ?    2 Yes 1 No

Golden rules of accounting..

Answer / karthik

REAL ACCOUNTS : DEBIT WHATS COMES IN
CREDIT WHATS GOES OUT

NOMINAL ACCOUNTS : DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAIN

PERSONAL ACCOUNTS : DEBIT THE RECEIVER
CREDIT THE GIVER

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / gautam saurabh.

PRESONAL ACCOUNT- debit the receiver, credit the giver.
REAL A/c - dr.what come in, cr. Whats goes out.

NOMINAL A/C- Dr.all expenses and losses, Cr. all income and gains.

Is This Answer Correct ?    1 Yes 0 No

Golden rules of accounting..

Answer / pratik lokhande

Personal A/c: Debit the Receiver
Credit The Giver

Real A/c: Debit What Comes in
Credit what goes out

Nominal A/c: Debit the Expences and Losses
Credit Profit and Gains

Is This Answer Correct ?    1 Yes 0 No

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my boss (Managing Partner of a firm) promoted along with his wife a private limited company. he and she spent some Rs. 75,000/- (approx) for the promotion of the company. i know that they usually fall under the head of preliminary expenses. but after receiving the certification of incorporation of the company how shall i repay them to the promoters i.e. what is the accounting entry in the books (initial books of accounts) for the expenditure incurred. they have kept in hand 5,00,000/- each to meet the expenses and they were allotted shares of equal to the amount. can i allot shares for a consideration of cash from and excluding the preliminary expenses. can i take cash towards the share application money (being the cash more than Rs. 20,000/-) as the company has not opened a bank account yet. please give me the detailed answer with journal entries that can be entered in tally. thank you.

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