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Categories >> Accounting >> Accounting General
 
 


 

 
 Audit interview questions  Audit Interview Questions (428)
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 Accounting General interview questions  Accounting General Interview Questions (2833)
 Accounting AllOther interview questions  Accounting AllOther Interview Questions (4371)
Question
Examples each for golden rules of accounting
 Question Submitted By :: Accounting-General
I also faced this Question!!     Answer Posted By  
 
Answer
# 1
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 ?    859 Yes 38 No
Venodyadav
 
Answer
# 2
1. Personal Account

Sundry Creditors A/c Dr.
To Cash/Bank A/c
( Payment for Purchase of Goods )

2. Real Account

Cash A/c Dr
To Bank A/c
( Cash Withdrawn from Bank )

3. Nominal Account
Printing & Stationery A/c Dr.
To Cash/ Bank A/c
( Purchase of Stationery Items )
 
Is This Answer Correct ?    476 Yes 49 No
Sridhar K
 
 
 
Answer
# 3
Salary of the employeeis not real a/c nor personal a/c it
is nominal a/c.
 
Is This Answer Correct ?    435 Yes 37 No
Sunil Jadhav
 
Answer
# 4
Personal Account:- It is individual account
Real Account:- It is business using for asset purchase
Nominal Account: It is Rent, salary paid of exp. and
advance received
 
Is This Answer Correct ?    328 Yes 21 No
Venkatesan
 
Answer
# 5
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 ?    265 Yes 18 No
Megharaaj
 
Answer
# 6
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 ?    191 Yes 19 No
Peyus
 
Answer
# 7
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 ?    136 Yes 14 No
Jayashree Durga Prasad
 
Answer
# 8
all my answer is right 
Is This Answer Correct ?    134 Yes 25 No
Hitesh
 
Answer
# 9
yes 
Is This Answer Correct ?    93 Yes 17 No
Ravi Ranjan Vishwakarma
 
Answer
# 10
Dear All,
Anyone can tell Salary what type of account? Real or
Personal a/c?
 
Is This Answer Correct ?    259 Yes 189 No
Sangeetha G
 

 
 
 
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what are the entries when we sold goods on credit to some x person ? also when we sold goods for cash?   7
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Goods lost in accident what entry should be made?   2
why land is not depreciated.........? HP 9
When does the Invoice price variance arise? What is the accounting entry? Genpact 5
Please explain ASAP?   5
what is Service tax rate   6
 
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