Answer / jubeda

THERE ARE THREE GOLDEN PRINCIPLES OF ACCOUNTING
PERSONAL A/C - DEBIT THE RECEIVER
CREDIT THE GIVER
EG: NAME OF A COMPANY/FIRM/PERSON/ETC.

REAL A/C - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
EG: EXPENSES/ASSETS/CASH/ETC.

NOMINAL A/C - DEBIT ALL EXPENSES/LOSSES
CREDIT ALL INCOMES/GAINS

EG: EXPENSES/INCOMES/INTEREST/COMMISSION/SALARY/ETC.

Answer / jubeda

THERE ARE THREE GOLDEN PRINCIPLES OF ACCOUNTING
PERSONAL A/C - DEBIT THE RECEIVER
CREDIT THE GIVER
EG: NAME OF A COMPANY/FIRM/PERSON/ETC.

REAL A/C - DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
EG: EXPENSES/ASSETS/CASH/ETC.

NOMINAL A/C - DEBIT ALL EXPENSES/LOSSES
CREDIT ALL INCOMES/GAINS

EG: EXPENSES/INCOMES/INTEREST/COMMISSION/SALARY/ETC.

Answer / shraddha desai

Personal : Debit the recevier
Credit the giver
Eg. Ram's A/C

Real : Debit what comes in
Credit what goes out
Eg. Cash A/C

Nominal : Debit the exps. and losses
Credit the income and gains
Eg. Discount A/C

If we give a discount to any customer on our invoice & issue a credit note of discount than what will be the group of discount in tally. please suggest me.

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