Golden rules of accounting
- 369 Answers
- 644625 Views
- Accenture, Accounting, Ajuba, Birla Tyres, Chartered Accountant, Flextronics, Genpact, Hewitt, HP, Intel, JPMorgan Chase, Northern Transport, Oracle, Scope International, TCS, TransWorld, UCO Bank, WNS, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / boopathy
Accounting Golden Rules
personal : Debit The Giver
Credit The Receiver
Real : Debit Was Comes In
Credit Was Goes Out
Nomminal : All Expenses and losses Debit
All Income And Gain Credit
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / jaydeep
REAL ACCOUNTS: DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT EG:CASH
IF YOU GIVE CASH IT IS CREDITED(TO SIDE)
IF YOU GAIN CASH IT OS DEBITED (BY SIDE)
------------------------------------------------------------
NOMINAL ACCOUNTS: DEBIT ALL EXPENSES AND LOSSES EG:SALARY
CREDIT ALL INCOMES AND REVENUES
IF YOU PAY SALARY IT IS DEBITED(BY SIDE)
IF YOU RECIEVE SALARY IT IS CREDITED(TO SIDE)
------------------------------------------------------------
PERSONAL ACCOUNTS: DEBIT THE RECEIVER
CREDIT THE GIVER
EG:RAM GIVES 1000 RS TO SHYAM:
SHYAM A/C DEBIT
TO RAM A/C CREDIT
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / vijayakumar.p
Personal Account:Debit the receiver
Credit the giver
Real Account : Debit what comes in
Credit what goes out
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / san.p
personal a/c- debit the receiver
credit the giver
real a/c- debit what comes in
credit what goes out
nominal a/c- debit all exp and losses
credit all incomes and ains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mainak bhattacharya
Real Account: A)What comes in debit
B)what goes out credit
Personal Account: A)Reciver is debit
B)Giver is credit
Nominal Account: A)Expenses and Losses is debit
B)Income and Revenue is credit
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pradip sawant
Personal A/C : Debit the receiver
Credit the giver
Real A/C : Debit whats comes in
Credit whats goes out
Nominal A/C : Debit all expenses and losses
Credit all income and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / amol kakade
Personal account:Debit what comes in, Credit what goes out.
Real account :Debit the reciever while Credit the giver.
Nominal account :Debit all expences and losses, Credit all
incomes and gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pratham
Personal A/c: Dr. the receiver
Cr. the Giver
Real A/C : Dr. What come in
Cr. What goes out
Nominal A/C : Dr. All expenses & losses
Cr. All incomes & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / singh
U WRITE CORRECT ANSWER GYES BUT U KNOW WHO IS THE FATHER
OF ACCOUNTING
| Is This Answer Correct ? | 0 Yes | 0 No |
what is accounting entries to be made in TAlly for stock (rice, cocunut, oils etc.,) used for food (like idly, dosa etc.,) pls guide us
What is suspense Account?
22 Answers Accenture, Amazon, Genpact, IBM, manappuram, TN,
What is audit,auditing?
Kindly solve the following problem. Financial accounting. 1. Bheema does not maintain his book in the double entry system . His books showed following facts. Receipts for the year ended 31.12.2007 from sundry Debtors 17625.00 Cash sales 4125.00 paid by bheema (proprietor) 2500.00 total 24250.00 payments made for the year ended 31.02.2007 new machinery purchased 625.00 drawings 1500.00 wages 6725.00 salaries 1125.00 interestpaid 75.00 telephone 125.00 Rent 1200.00 lighting 475.00 sundry expenses 2125.00 sundry creditors 7625.00 total 21600.00 Assets and Liabilities As on 31.12.2006 As at 31.12.2007 sundry creditors 2525.00 2400.00 sundry Debtors 3750.00 6125.00 Bank 625.00 ? stock 6250.00 3125.00 plant 7500.00 7315.00 from the Above data , prepare TRADING A/C, PROFFIT & LOSS A/C for the year ended 31st december 2007 and the BALANCE SHEET as on on that date. Kindly solve the problem
plz tell me the finance questions asked in hsbc latest question asked in hsbc?
what Trial Balance? state the difference bewtten Gross Trail balance & Net trail Balance?
WHAT ARE THE PRINCIPALS OF ACCOUNTING
Hi all i did my M.B.A financ enw iam doing a job as a finance executive but i feel it is not good 4 me can any 1 plz guide me 4 the better career my job profile is (INVOICING)hw it is help me out 4 the better career shell i continu ein the same 1 by learning sap or oracle or shall i shift to any other if any other which job is suites to me plz suggest me
the bank revised the late payment penalty charges to $750 and to the borrowers A/C, pass the journal entry for the same
what is journal entry to make- provision for liablities and provision for assets
expand D I N
Calculate the profit/loss on sale of the following assets as on 30th september 2000 cost of the asset on 01.05.95 50000/- Salvage Value 5000/- Method of depriciation & date WDV 15% sales of asset on 30.09.2000 Rs 25000/-
Audit 
