Interested to Buy Any Domain ? << Click Here >> for more details...
Golden rules of accounting
- 369 Answers
- 702995 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 / anilkumar.v
For the purpose of accounting we can classify the accounts
as three catagories. They are Personal account, Real
account and nominal account.For each and every transaction
there will be two aspects,ie,. Debit and credit. So while
applying the golden principles upon these catagories we can
reac the bellow mentioned summary.
Personal account:Debit what comes in, Credit what goes out.
Real account :Debit the reciever while Credit the giver.
Nominal account :Debit all expences and losses, Credit all
incomes and gains.
| Is This Answer Correct ? | 199 Yes | 117 No |
Answer / mustaque
personal a/c-debit the receiver
Nominal a/c-all expenses,losses debit,all incomes,and gains
credit
Real A/c-What comes in Debit
What goesout credit
Valuation A/c
| Is This Answer Correct ? | 124 Yes | 54 No |
Answer / sridhar ramasamy
1. Debits always equal credits; 2. Increases do not
necessarily equal decreases; and, 3. Assets - liabilities =
owner's equity (the accounting equation).
| Is This Answer Correct ? | 121 Yes | 62 No |
Answer / sudhaa
Real Account : Debit what comes in
Credit what goes out
Personal Account : Debit the receiver
Credit the giver
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 44 Yes | 6 No |
Answer / ganesh .h,g.
Real Account : Debit what comes in
Credit what goes out.
Personal Account : Debit the receiver
Credit the giver.
Nominal Account : Debit all expenses and losses
Credit all incomes and gains.
| Is This Answer Correct ? | 36 Yes | 5 No |
Answer / saroj kumar
Golden Rules of Accounting
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 ? | 29 Yes | 3 No |
Answer / musaib
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 GIVER
CREDIT THE RECEIVER
| Is This Answer Correct ? | 538 Yes | 517 No |
Answer / mahendra rajput
PERSONAL A/C - DEBIT TO RECEIVER
CREDIT TO GIVER
REAL A/C - DEBIT TO COMES IN
CREDIT TO GOES OUT
NOMINAL A/C - DEBIT TO ALL EXPENSES/LOSSES
CREDIT TO ALL INCOMES/REVENUES
| Is This Answer Correct ? | 21 Yes | 1 No |
Answer / sirajudeen t
GOLDEN RULES OF ACCOUNTING:
I. PERSONAL ACCOUNT:
i. DEBIT THE RECEIVER
ii. CREDIT THE GIVER
II. IMPERSONAL ACCOUNT
1.REAL ACCOUNT:
i. DEBIT WHAT COMES IN
ii. CREDIT WHAT GOES OUT
2. NOMINAL ACCOUNT:
i. DEBIT ALL EXPENSES AND LOSSES
ii. CREDIT ALL INCOMES AND GAINS
| Is This Answer Correct ? | 24 Yes | 5 No |
Answer / eswar
Golden Rules of Accounting
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 ? | 19 Yes | 3 No |
Is there any difference between Income and Profit
apptitude Questions for accounts payable job
1 Answers Accenture, Airtel, Call Centre, WNS,
what is indirect tax?
Hi any one send me the configuration steps for make to order and make to stock in sap .send to my mail id c.sujatha2008@gmail.com
Whats the difference between accounting concepts and conventions?
Name some errors which are not disclosed by trial balance
What exactly balance sheet depicts
What is the Mercantile accounting System?
what is the golden rules of accountancy ?withdrwal frm atm what will be the transaction ?
Why should we prepare profit
30 Answers Accenture, Maharaja Whiteline,
What is capital expenditure?
what is meaning NPA?
Audit 
