Golden rules of accounting
- 369 Answers
- 645252 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / navdeep singh
personal a/c :debit the recevier
credit the giver
real A/c : Debit what comes in
Credit what goes out
Nominal a/c : Debit all Loss and Expenses
Credit all Incomes and gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shashi kumar.r
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 gains and incomes
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ramesh behera
Golden rules of accounting
Personal A/c- Debit the receiver
Credit the giver
personal A/c relalted Ram, gopal Etc for Exp-Purchase goods
purchase from ram on credit in this case Ram is the Pesonal
A/c Rules
purchase A/c Dr
to
Ram A/c Cr
Real A/c-Debit whats comes in
Credit whats goes out
Real A/c Related goods, cash etc For Exp-Purchase furniture.
Rules
Furniture A/c Dr
to
cash
Nomila A/c-Debit All the Expenses & Losess
Credit All the Income & Gains
Nomila A/c Related-Bad debt Bad debt Recovery etc For Exp-
Sales Goods to ram Rs-5000 but received from his Rs-4500.
Rules
Cash A/c 4500 Dr
Bad debt A/c 500 Dr
to
Ram A/c 5000 Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / lakhan
personal a/c debit the recevier
credit the giver
real a/c debit what comes in
credit what gose out
nominal a/c debit all expenses nd loses
credit all profit nd gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / trinath
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 ? | 0 Yes | 0 No |
Answer / devraj
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kalpana dudhate
Real Account : Debit what comes in
Credit what goes out
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
Personal Account : Debit the Receiver
Credit the giver
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohammed asim.v
REAL ACCOUNT :DEBIT WHAT COMRS IN
CREDIT WHAT GOES OUT
PERSONAL ACCOUNT :DEBIT THE RECEIVER
CREDIT THE GIVER
NOMINAL ACCOUNT :DEBIT ALL EXPENSES AND LOSES
CREDIT ALL GAINS AND INCOMES
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / raj
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 ? | 0 Yes | 0 No |
Answer / hema
Personal Account - Debit the Receiver
Credit the Giver
Real Account - Debit What Comes in
Credit What goes out
Nominal Account - Debit all expenses and loses
credit all incomes and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
How to adjust payment transfer amount one party to another party in Tally?
Expand---------NPTO
what is the journal entry for accumulated depreciation
what is mba tell me the more benefits in mba
What are different types of reports made in tally
please tell me that how much percentage of shares of a company must be purchased so in order to start the company??
Expand P P F
What are day-books?
Distinguish capital and Revenue receipts
Expand---------OMLP
Tell us your experience in cost accounting?
What is Cheque
Audit 
