Golgappa.net | Golgappa.org | BagIndia.net | BodyIndia.Com | CabIndia.net | CarsBikes.net | CarsBikes.org | CashIndia.net | ConsumerIndia.net | CookingIndia.net | DataIndia.net | DealIndia.net | EmailIndia.net | FirstTablet.com | FirstTourist.com | ForsaleIndia.net | IndiaBody.Com | IndiaCab.net | IndiaCash.net | IndiaModel.net | KidForum.net | OfficeIndia.net | PaysIndia.com | RestaurantIndia.net | RestaurantsIndia.net | SaleForum.net | SellForum.net | SoldIndia.com | StarIndia.net | TomatoCab.com | TomatoCabs.com | TownIndia.com
Interested to Buy Any Domain ? << Click Here >> for more details...

What are the 3 Basic Rules in Accounting.

Answer Posted / rasheed

There 3 basic rule in accounting..
1)Real account Dr what come in and Cr wat goes out
2)personal account Dr the receiver and cr the giver
3)Nominal account Dr all expenses and loss, Cr all incomes and
gains

Is This Answer Correct ?    0 Yes 0 No



Post New Answer       View All Answers


Please Help Members By Posting Answers For Below Questions

We have two mandatory qualifiers nature of accounts and balancing segment, which will balance the debit and credit and recognize the nature of accounts, my question is what other qualifiers do. Like management. Thank you.

2105


what is joint venture?

2098


Suppose the production is more and sales less then what will happen

1930


reason for difference in Balance sheet (Asset side & Liabilites side)

2016


What is the Formula For Return on Working Capital

2188


what is the process of excise duty?

2539


cash sales and credit sales both are asset or liability?

1445


Calculate Income Ta X On Nett Income Of Rs 365520 For Men,women And Senior Citizen For The Assessment Years 2009- 10 And 2010-11?

2008


why do you want to work here?

2133


hai everybody... wish u all the best for those who got selected in sbi associate bank is anyone from coimbatore region attending on 27th may 2009.

2141


what is mixed invoice, prepaid invoice,quick invoice,podefault invoice,withholding tax invoice,please explain me in detail?

2335


You configured new assets accounting for your company code with three depreciation areas that post in real time. When posting an external acquisition. How many documents are created?( any 1 answer) 2 3 4 6

2100


how to entry in tally for other person check received

1941


What is specific reserve

2546


From the following find out a. Profit Volume ratio b. Break even point c. Sales for 40% P/V Ratio d. Margin of safety from the sales Rs 3,00,000 e. Net profit from the sales of Rs 3,00,000 f. Required sales for the new profit of Rs 70,000 g. Required sales for the net profit of Rs 70,,000 after tax, the corporate income tax being 40% h. Additional sales required to convert an increase of Rs 3000 p.a. in the sales manager salary Sale 2,00,000 Variable Overheads 1,50,000 Profit 50000 Fixed overheads 15000 Net profit 35000 Sl No Heads of Account Debit Rs Credit Rs 1 Drawing and Capital 750 15,000 2 Stock as on 01.01.2009 69720 3 Bills Receivable and bills payable 1000 1180 4 Returns 300 320 5 Purchases and Sales 4500 8300 6 Wages 70 7 Discount 30 8 Salaries 200 9 Canara Bank Shares 3000 10 Insurance 120 11 Building 3000 12 Furniture 700 13 Debtors and Creditors 600 1300 14 Cash in Hand 470 15 Overdraft at bank 900

2113