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Golden rules of accounting
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Answer / mohan kumar
1 ) personal account :debit the giver.
credit the reciver.
2 ) nominal account : debit all expenses & losses.
credit all income & gains.
3 ) real account : debit what comes in.
credit what goes out.
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / gurunath dattatrey rajpurkar
Real A/c : Debit what comes in
credit what goes out
Personal A/c: Debit the receiver
Credit the giver
Nominal A/c : Debit all Expenses & Losses
Credit all incomes & gains
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / raj kumar jha
To Start the a/c one should know this Golden Rule.
Golden Rule
Real A/c - Debit What Comes in
Credit What Goes out
Personal a/c - Debit the receiver
Credit the giver
Nominal A/c - Debit all expences and losses
Credit all income and gain.
If this rule is clear to any one he/she will never do
mistake in ledger and journal posting.
| Is This Answer Correct ? | 4 Yes | 1 No |
Answer / aprajita apra
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES
CREDIT ALL INCOMES
PERSONAL ACCOUNTS DEBIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / prashant
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 ? | 3 Yes | 0 No |
Answer / ravi angoth
Personal A/c:
1.Taking benefits is Debit
2.Giving benefits is Credit
Real A/c:
1.what comes in is Debit
2.what goes out is Credit
Nominal A/c:
1.Expenses and losses are Debit
2.Incomes and gains are Credit
| Is This Answer Correct ? | 3 Yes | 0 No |
Answer / aneesh mg
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 ? | 3 Yes | 0 No |
Answer / kdr
the main thing in accounts is debit decreases the amount
and credit increases the amount
and rules applicable
| Is This Answer Correct ? | 16 Yes | 14 No |
Answer / santosh jamgonde
real a/c: debit the receiver
credit the giver
personal a/c : debit what comes in
credit what goes out
nominal a/c : debit the all the expenese & losses
credit the all the income & gains
| Is This Answer Correct ? | 2 Yes | 0 No |
Answer / varsha
personal Account:- Debit the reciever
Credit the giver
Real Account:- Debit what comes in
Cedit what goes out
Nominal Account:-Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 2 Yes | 0 No |
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