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Examples each for golden rules of accounting
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Answer Posted / chandrasekhar:k
1.personal account;
Debit the receiver
Credit the giver .
example:goods purchased form the ramu Rs.3000 .
Goods a/c Dr
TO Ramu a/c
{being goods purchased from ramu by credit purchases}
2.Real account:
Debit what comes
Credit what goes out
example:Buildings purchased for cash
Building a/c
To cash a/c
{being building purchased for cash }.
3.Nominal account:
Debit all expences and losses
Credit all incomes and gains
example:rent paid
Rent a/c
To cash
{being rent paid }
| Is This Answer Correct ? | 5 Yes | 2 No |
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