What are the Golden rules of accounts? with an example?

Answer Posted / arthi

Personal A/c
Debit the receiver
Credit the giver
Nominal A/c:
Debit all incomes and losses
Credit all expenses and gains
Real A/C:
Debit what comes in
Credit what goes out

Is This Answer Correct ?    37 Yes 15 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

WHAT IS MEANT BY CST? DO THE SUPPLIER CLAIM CST 2% FROM THE PURCHASER? WHAT ARE ALL THE RULES TO BE FOLLOW WHILE THE BUYER PURCHASE A 'C'FORM FROM THE CTO?

1584


please send me andhra bank clerk xam model papers

1550


OUR CO. ACCEPT SODEXO COUPONS FORM CUSTOMERS; WHEN WE SUBMIT COUPONS FOR REIMBURSEMENT TO SODEXO THEY DEDUCT SERVICE CHGS AND S. TAX AND PAY BALANCE AMOUNT, DOSE IT ATTRACT TDS?

2415


I am working at Himachal Pradesh, let me know cant i adjust entry tax in vat? if no then why or yes, please exlain.

1685


What are the excise duties in our state?

2048






Hi, I need the clarification in Tax Rate in Karnataka for Frozen foods like Paratha, Briyani, Pasta's Please share the information for me

1695


I am a civil Engineer consultant. On an item for example Rs.100, I am adding 4%WCT ie., Rs.4 and I am certifying the contractor bill for Rs.100.00 + Rs.4.00 = Total Rs.104.00. But my client is deducting 4% on Rs.104.00 ie., Rs. 4.16. So, finally contractor is losing Rs. 0.16 on Rs. 100 which amounts to lakhs on the project value. Can you please guide me on this? Santosh Kumar

1750


What r the foll tax deductions for :- 1.TDS 2.WCT Give me answers in detail & give me some addtional info on these topics which would be helpful for me.

4303


While depositing cash at any bank above then Rs 50K, we need to provide PAN Card or we have to fill form 60, but tell me why a person needs to sign FORM 60 if he is paying installments of >50K of Loan availed by him/her earlier? As if he is repaying Loan, not depositing in his A/c?

3122


WHEN FORM VAT R-2 USE?

1651


WHAT IS DEFERRED TAX LIABILITIES.AND WITH EXMPLE DEFERRED TAX ACCOUNTING?

1572


how to caluclate the mumbai tax with example? what is mean by credit and debit ?

1453


WHETHER VAT IS APPLICABLE IN FIRMER TRACTORS ? WHETHER VAT IS APPLICABLE IN NORMAL TRACTORS ? PLEASE NOTE THAT I HAVE PURCHASED IT BY PAYING VAT.

1830


what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?

1734


what is fillup form when company issue c form

1819