Examples each for golden rules of accounting
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Answer / anagha bavikar
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 ? | 51 Yes | 0 No |
Answer / jitendra more
PERSONAL ACCOUNT
DEBIT : THE RECEVIER (S.Creditor, Party)
CEDIT : THE GIVER (Cash or Bank)
REAL ACCOUNT
DEBIT : WHAT COMES IN (Cash/Cheque, Purchases, Receipts)
CREDIT : WHAT GOES OUT (Payments, Cash/Cheque, Sales)
NOMINAL ACCOUNT
DEBIT : EXPENES OR LOSS (Salary,commission,rent,etc)
CREDIT : INCOME OR GAINS (Interest recieved,commission
received, royalty received, etc)
| Is This Answer Correct ? | 41 Yes | 2 No |
Answer / dinesh kumar
1) PERSONAL ACCOUNT
DEBIT THE RECEIVER (S.Creditor, Party)
CREDIT THE GIVER (Cash or Bank)
2) REAL ACCOUNT
DEBIT WHAT COMES IN - (Cash/Cheque, Purchases, Receipts)
CREDIT WHAT GOES OUT - (Payments, Cash/Cheque, Sales)
3) NOMINAL ACCOUNT
DEBIT ALL EXPENSE AND LOSS -(Salary,commission,rent,etc)
CREDIT ALL INCOME AND GAINS - (Interest recieved,
commission received, royalty received, etc)
| Is This Answer Correct ? | 33 Yes | 0 No |
Answer / vikash mishra
PERSONAL ACCOUNT
DEBIT : THE RECEVIER
CEDIT : THE GIVER
REAL ACCOUNT
DEBIT : WHAT COMES IN
CREDIT : WHAT GOES OUT
NOMINAL ACCOUNT
DEBIT : EXPENES OR LOSS
CREDIT : INCOME OR GAINS
| Is This Answer Correct ? | 33 Yes | 1 No |
Answer / n.pragatheeswaran
Used Golden Rules for depreciation
1. Depreciation A/c Dr = Rs:1000 ( Nominal A/c -Expenses & loss
Machinery A/c Cr = 200 ( Real A/c )
Furniture A/c Cr = 200 ( Real A/c )
Computer A/c Cr = 600 ( Real A/c )
| Is This Answer Correct ? | 27 Yes | 1 No |
Answer / d.s.bhavana
no no both are wrong.the salary is nominal account
| Is This Answer Correct ? | 16 Yes | 0 No |
Answer / venkatayya
A. Personal a/c: Debit the receiver
Credit the giver
B. Real a/c: Debit what comes in
Credit what goes out
C. Nominal a/c: Debit all expenses and losses
Credit all gains and incomes
| Is This Answer Correct ? | 15 Yes | 0 No |
i have query on bank reco. pls suggest me on my following question my bank bal as on 31.3.09 was rs 700000 but after reconsilation it was 100000 because there was two three cheque was ulcleard. which bal should i take in new FY & how i show into account
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