Golden rules of accounting
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Answer / r.b shukla
Real a/c: By/Dr. What Comes in.
To/Cr. What Goes out.
Personal a/c: By/Dr. The Receiver.
To/Cr. The Giver.
Nominal a/c: BY/Dr. All Expenses & Losses.
By/Cr. All Gains & Profit.
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Answer / roshani sandra
Real accounts:- Debit what comes in
Credit What goes out
Personal Accounts:- Debit the Receiver
Credit the Giver
Nominal Accounts:- Debit Expenses and Losses
Credit Income and Receiver
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / ravindra kadam
real a/c : Debit what come in
Credit what goes out
nominal a/c :Debit all expenses & loses
Credit all profit & gain
personal a/c :Debit the recevier
Credit the giver
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / shyam biradar1992@gmail.com
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 and losses
:credit all expenses and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ajit sharma
REAL ACCOUNTANT: DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT.
NOMINAL ACCOUNTANT: DEBIT ALL EXPENSES & LOSSES
CREDIT ALL INCOME & REVENUES.
PERSONAL ACCOUNTANT: DEBIT THE GIVER
CREDIT THE RECEIVER.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / hema
personal account:Debit the receiver
credit the giver
real account :what comes in Debit
what goes out credit
nominal account :Debit all expanses and loss
credit all incomes gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / thiru
Nominal A/c : Debit Loss and Expense
Credit Profit and Gains
PERSONAL ACCOUNTS DEBIT THE GIVER
CREDIT THE RECEIVER
Real A/c : Debit what goes out
Credit what comes in
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / alia khan
i dont agree on this as i read seven golden rules however here the same has been repeated n number of tims
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rithika
PERSONAL A/C- DEBIT THE RECEIVER
CREDIT THE GIVER
REAL A/C- WHAT COMES IN DEBIT
WHAT GOES OUT CREDIT
NOMINAL A/C- ALL EXPENSES & LOSSES DEBIT
ALL INCOMES & GAINS CREDIT
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / nellie chirwa
debit the receiver, credit the giver
debit all expenses and losses, credit all profit and gains
debit what comes in, credit what goes out
| Is This Answer Correct ? | 0 Yes | 0 No |
what is the golden rules of accountancy ?withdrwal frm atm what will be the transaction ?
Salary to the employee comes under expense or liabilty to the co? how?
Expand---------BCDS
whatis meant by contigent liability
Which balance for profit ? debit or credit? also which balance for Opening Stock?
We are running an educational institution in Karnataka,India. Is there any ceiling stating that if gross salary is upto this then only incentive or bonus can be paid?
From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900
can aney one explain it what is spin off / split off ?
When oustanding expense is give in the TB and corresponding expense is not then how will we the same? Eg.: Outstaning salary 100 given in the TB and salary for the month is not there to add oustanding with the same. In this situation how will we treat the same. Only in profit & loss account or in balance sheet or both or?
What is split shares.....
expand-----KGH
Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000 Data for two divisions of Alpha Biotech Ltd. Are given below. Analyze both divisions. Parameters Division X Division Y Rs. Rs. Capital Employed 50,00,000 50,00,000 Sales 30,00,000 28,00,000 Cost of Goods Sold 21,00,000 18,00,000 Profit Before Tax 9,00,000 10,00,000 Tax 2,70,000 3,00,000 Profit After Tax 6,30,000 7,00,000
Audit 
