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Golden rules of accounting
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Answer / bhawesh kumar
REAL ACCOUNT DEBIT WHAT COMES IN
CREDIT WHAT GOES WHAT
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 | 1 No |
Answer / kanchan
GOLDEN RULES OF ACCOUNTING:
===========================
Real A/C : Dr. What come in
Cr. What goes out
Personal A/c: Debit the receiver (The person)
Credit the Giver (The person)
Nominal A/C : Dr. All expense & loss
Cr. All incomes & gains
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / dhanasekar & balaji
Real A/C : Dr. What come in
Cr. What goes out
Personal A/c: Debit the receiver (The person)
Credit the Giver (The person)
Nominal A/C : Dr. All expense & loss
Cr. All incomes & gains
Representative Personal A/C:
Deals with Accruals, Received in Advance, Outstandings,
etc....
Valuation A/C:
Deals with all provisions.
This is the way of professional accounting and auditing by
any CA/CWA/CS!
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / pavan
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 ? | 0 Yes | 1 No |
Answer / babu r h
Personal A/C Says that : Debit the Reciever
Credit the Giver
Real A/c Says that : Debit what comes in
: Credit what goes out
Nominal A/c Says that : Debit all expenses & Losses
: Credit all Income & gains
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / v.r. madhavan
rule 1 - credit what comes in and debit what goes out
rule 2 - credit exps and losses and debit incomes and gains
rule 3 - credit the receiver and debit the giver
rule 4 - credit (what goes out+incomes and gains+giver)
debit (what comes in + exps and losses + the receiver)
| Is This Answer Correct ? | 1 Yes | 2 No |
Answer / sudarshan
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 | 1 No |
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 loses & credit all
incomes and gains.
| Is This Answer Correct ? | 0 Yes | 1 No |
Answer / abhimanyu verma
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 ? | 0 Yes | 1 No |
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