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What are the 3 Basic Rules in Accounting.
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Answer / ajinath phuke
Personal a/c
Debit the recevier
Credit the giver
Nominal a/c
debit all expences &loss
Credit all incom& gains
Real a/c
debit what come in
Credit what goes out
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Answer / kailasam
Personal A/c
Dr:-"Debit the receiver
cr:-credit the giver"
Real A/c
Dr:-"Debit what comes in"
cr:-"credit what goes out"
Nominal a/c
Dr:-"Debit all expenses and lossess
cr:-credit all incomes and gains"
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mahesha c
1) personal accounts
Debit is the receiver.
Credit is the giver.
2)Real accounts
Debit what comes in.
Credit what goes out.
3)nominal accounts
Debit all expenses & losses.
Credit all income & gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sujeet
what type ac in real ac nominal ac personal ac
1 1
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Answer / funny sharma
1+2X0=
1+4+4+4+4+4-2X0-1+4=
0X10+5+5-0+5=
ITS REAL ACCOUNT
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / weldon vel
#ACCOUNTING RULES#
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.
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Answer / mohammed mubasheer ali khan
Golden rules of accounting
1)personal a/c
2)nominal a/c
3)real a/c
PERSONAL A/C: debit is the receiver
credit is the giver
real a/c:What comes in ------ Dr
What goes out----- Cr
nominal a/c :All expenses and losses--Dr
All income and gains-------Cr
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Answer / ruksar khan
1) ASSETS = liabilities + Capital
2) what comes in DR.
what goes out CR.
3) Debit all exp&loss and credit all incomes and gains
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Answer / abhijeet yadav
1.Real Account
what comes in Dr
what goes out Cr
2.Personal Account
Reciver is Dr
Giver is Cr
3.Nominal Account
All Expenses Dr
All incomes Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / akshata
Personal A/C - Dr. the receiver
Cr. the giver
Real A/C - Dr. what comes in
Cr. what goes out
Nominal A/C - Dr. all expenses & losses
Cr. all income & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
what is mean by Red herrting
DHPL is a small sized firm manufacturing hand tools. It manufacturing plan is situated in Haryana. The company’s sales in the year ending on 31st March 2007 were Rs.1000 million (Rs.100 crore) on an asset base of Rs.650 million. The net profit of the company was Rs.76 million. The management of the company wants to improve profitability further. The required rate of return of the company is 14 percent. The company is currently considering an investment proposal. One is to expand its manufacturing capacity. The estimated cost of the new equipment is Rs.250 million. It is expected to have an economic life of 10 years. The accountant forecasts that net cash inflows would be Rs.45 million per annum for the first three years, Rs.68 million per annum from year four to year eight and for the remaining two years Rs.30million per annum. The plant can be sold for Rs.55 million at the end of its economic life. The company would need to raise debt to the extent of Rs.200 million. The company has the following options of borrowing Rs.200 million: a. The company can borrow funds from a nationalized bank at the interest rate of 14 percent for 10 years. It will be required to pay equal annual installment of interest and repayment of principal. b. A financial institution has offered to lend money to DHPL at 13.5 per annum but it needs to pay equated quarterly installment of interest and repayment of principal. Questions: 1. Should the company expand its capacity? Show the computation of NPV 2. What is the annual installment of bank loan? 3. Calculate the quarterly installments of the Financial Institution loan 4. Should the company borrow from the bank or from the financial institution?
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