Golden rules of accounting
Answers were Sorted based on User's Feedback
Answer / navin jain
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 / harsh agarwal
Personal A/c : Debit the receiver
Credit the giver
Real A/c : Debit what comes in
Credit what goes out
Nominal A/c : Debit Loss and Expense
Credit Profit and Gains
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ranganathan
Real A/c : Debit What is comes in
Credit what is goes out
Nominal A/c : Debit All Expenses & Loses
Credit all Income& Gains
Personal A/c : Dedit the Receiver
Credit the GIver
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rahul raj
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 / aashutosh bishwas
Real A/c : Whats comes in Debit
Whats goes out Credit
Nominal A/c : Debit All Exp. & Loses
Credit All Profit & Gain
Personal A/c : Debit the receiver
Credit the giver
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / manjunath kasar
PERSONAL A/C : DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
REAL A/C : DEBIT THE RECEIVER
CREDIT THE GIVER
NOMINAL A/C : DEBIT ALL EXPENSES & LOSES
CREDIT ALL INCOME & AND GAIN
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / venkataraman k
PERSONAL ACCOUNT - DEBIT THE RECEIVER
CREDIT THE GIVER.
REAL ACCOUNT - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT.
NOMINAL ACCOUNT - DEBIT ALL EXPENSES & LOSSES
CREDIT ALL INCOMES & GAINS.
Is This Answer Correct ? | 1 Yes | 1 No |
Answer / syed
real a/c : Debit comes in
credit goes out
nominal a/c : debit all expenses & losses
credit all profit & gain
personal a/c : debit the receiver
credit the giver
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / anant koundal
PERSONAL ACCOUNT : DEBIT-THE RECEIVER
CREDIT- THE GIVER
REAL ACCOUNT : DEBIT-WHAT COMES IN
CREDIT - WHAT GOES OUT
NOMINAL ACCOUNTANT: DEBIT- ALL EXPENSES & LOSSES
CREDIT- ALL INCOME GAIN
Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kajal shah
account debit credit
personal A/c the receiver the giver
nominal A/c all expenses& all income &
losses gain (profit)
real A/C what comes what goes
in out
Is This Answer Correct ? | 0 Yes | 0 No |
what is delapidation
I am a student of ICWAI (Intermediate). I looking for some information about Rayalty and Hire Purchase.
wages posted twice what is the entry for that?
What is functional area,trading partner in sap fico
what is ADR
what do you mean by accounting?Explain the various concepts of accounting and the need for having accounting standards?
Expand ________GDP
is outstanding items (either expences or incomes) comes in trial balance? if so how to treat them in financial statements
example of SOP
Expand A G M
i m purchasing some material from one company with tax invoice & i m also doing work with them on commission basic.Now what should i raised them? credit note or debit note? Is there any format for that?
What is the Meaning of Current ratio?