Examples each for golden rules of accounting
- 31 Answers
- 191503 Views
- ABC, Accenture, BSNL, DELL, General Insurance Corporation, Genpact, IBM, Microsoft, Wipro, I also Faced
- E-Mail Answers
Answer Posted / jayashree durga prasad
PERSONAL ACCOUNT:
Debit the recevier
Credit the giver.
EXAMPLE:
Sundry Creditors A/C DR
To Cash/Bank A/C
REAL ACCOUNT:
Debit what comes in
Credit what goes out
EXAMPLE:
Cash A/C DR
To Bank A/C
NOMINAL ACCOUNT:
Debit all expenses or losses
Credit all incomes or gains
EXAMPLE:
printing & Stationery A/C DR
To Cash / Bank A/C
| Is This Answer Correct ? | 265 Yes | 29 No |
Post New Answer View All Answers
describe the rule of garner vs murray and how it relates to the dissolution of a partnership
Explain what a deferred asset is and give an example?
Explain purchase day book.
Explain have you ever heard about tds, what it is?
give me examples of the accounting reports you have prepared
What is the formula for acid test ratio in accounting?
Define fair value accounting?
What would be journal entry for--Encashed a bank draft belonging to X? Ans as given in textbook is Bank account debit to Cash account credit.......But shouldnt it be Cash account debit to Bank account credit...Wat do u guys feel??And do explain ur answers..Thnx in advance
List out some of the accrued expenses and the accounts in which you would record them?
Who is the sundry creditors
Are there any questions you would like to ask?
what is bond wash transaction ,when we have to use it, and what is the procedure please help me with examle
X draws a bill on Y for Rs 20,000 for 3 months on 1.1.05. The bill is discounted with banker at a charge of Rs 100. At maturity the bill return dishonoured. In the books of X, for dishonour, the bank account will be credited by Rs. (a) 19,900 (b) 20,000 (c) 20,100 (d) 19,800
OUR COMPANY IS ENGGAGED IN CONSTRUCTION ACTIVITY .WE ARE GOING TO PURCHASE EXACAVATOR MACHINE FROM THE INTERSTATE.WHETHER THE ABOVE PURCHASE COVERED BY ISSUING THE C FORM.
What is the use of accounting?
