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what is the golden rules of accountancy ?withdrwal frm atm
what will be the transaction ?
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Answer / manisha ashish salvi
3 Golden Rules of accountancy as below :
1) Personal Rule
Debit the receiver
Credit the Giver
2) Real Rule
Debit what comes in
Credit what goes out
3) Nominal Rule
Debit the Expenses & Losses
Credit the Incomes & Gains
&
Withdrawal from Atm means same transaction as cash withdraw
from bank , the transaction as follows:
Dr. Cash A/c
Cr.Bank A/c
| Is This Answer Correct ? | 23 Yes | 2 No |
Answer / a.r.somesh
Simple Entry Cash A/c Dr.
Bank A/c Cr.
The same transaction what we do for cash withdrawl,
assume ATM is also bank
| Is This Answer Correct ? | 11 Yes | 0 No |
Answer / gaurang vyas
The Golden Rule of Accountancy is whatever comes in is
Debit & Whatever goes is credit.
For Individual who withdraw money from ATM.
- Cash A/C Dr.
-Personal A/C Cr.
For Bank.
- Personal A/C of Bank A/c Holder Dr.
-Cash A/C Cr.
| Is This Answer Correct ? | 9 Yes | 3 No |
In the point of view of withdrawer: It's very similar to
cash withdrawn from bank.
Entry Will be: Cash A/c----Dr
To Bank A/c.
| Is This Answer Correct ? | 4 Yes | 0 No |
Answer / satyen
differance between income,Expenditure & Receipts,Payment
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / prasan
Withdrawer from ATM also through Bank,so
Cash Dr
Bank Cr
| Is This Answer Correct ? | 1 Yes | 3 No |
Answer / francis dnacio
credit what comes in debit what goes out .
bank a/c dr to Cash a/c cr
| Is This Answer Correct ? | 3 Yes | 12 No |
Answer / raman mishra
golen rules are- 1.PERSONAL A/C- DR.IS RECEIVER & CR.IS
GIVER.
2.REAL A/C- DR. WHAT COMES IN.
CR. -WHAT GOES OUT
3.NOMINAL A/C-DR.ALL EXP.& GAINS
CR-ALL INCOMES & LOSSES.
BANK A/C-DR.
CASH A/C-CR.
| Is This Answer Correct ? | 1 Yes | 15 No |
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