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Golden rules of accounting
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Answer Posted / shyam kishor sharma
PERSONAL A/C: DEBIT THE RECIEVER
CREDIT THE GIVER
REAL A/C: DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL A/C: DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOME AND GAINS
ASSETS: DEBIT THE INCREASE IN ASSETS
CREDIT THE DECREASE IN ASSETS
LIABILITIES : DEBIT THE DECREASE IN LIABILITIES
CREDIT THE INCREASE IN LIABILITIES
CAPITAL: CEBIT THE DECREASE IN CAPITAL
CREDIT THE INCRESE IN CAPITAL
EXPENSES: DEBIT THE INCREASE IN EXPENSES
CREDIT THE DECREASE IN EXPENSES
INCOME: DEBIT THE DECREASE IN INCOME
CREDIT THE INCREASE IN INCOME
DEBTORS/CREDITORS(PERSONAL A/C)
DEBIT THE DEBTORS
CREDIT THE CREDITORS
IF I AM RIGHT THEN PLEASE MAIL ME
MY ID IS: shyam.info5562@yahoo.in
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