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Golden rules of accounting
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Answer Posted / macchindra sambhaji kadlag
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
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CLASSIFY THE FOLLOWING INTO REAL,NOMINAL AND PERSONAL- 1.unpaid salaries a/c 2.arvind mills a/c 3.arvind mills shares a/c 4.prepaid rent a/c 5.fire insurance premium a/c 6.life insurance premium a/c 7.petty cash a/c 8.loan given a/c 9.interest received a/c 10.loan received a/c
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