Golden rules of accounting
- 369 Answers
- 645954 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 / rajesh.piriya
REAL ACCOUNTS DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
NOMINAL ACCOUNTS DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND REVENUES
PERSONAL ACCOUNTS DEBIT THE GIVER
CREDIT THE RECEIVER
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shruthi h
personal account- Debit the receiver
Credit the giver
real account - Debit What comes in
Credit what goes out
naminal Account - Debit All expences and losses
Credit All Income and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / munna
personal account : receiver should be debited
giver should be credited
real account : what comes in credit
what goes out is credit
nominal account : expenses and losses is debited
profits and gains is credited.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / pvn pavankumap
they are 3 types of accounting principles
pesronal account : debit the reciver
credit the giver
real account : debit what comes in
credit what goes out
nominal account : debit all expenses & loses
credit all profit & gain
| Is This Answer Correct ? | 1 Yes | 1 No |
Answer / manish kumar shaw
Personal Account :-
Debit the receiver
Credit the giver.
Real account :-
Debit what comes in
Credit what goes out.
Nominal Account :-
All expenses and losses are Debit
All incomes, profits and gains are Credit.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mahesh
1) Personal Account Debit the receiver
Credit the giver
2) Real Account Debit what comes in
Credit what goes out
3) Nominal Account Debit all expenses & losses
Credit all income & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / jayashree satish poojary
GOLDN RULES OF ACCOUNTING:
1. REAL A/C-DEBIT WHAT COMES IN
CREDIT WHAT GOES OUT
2. NOMINAL A/C-DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS
3. PERSONAL A/C-DEDIT THE RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / sk sahine aktar
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 / deepshikha
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 EXPENSES & LOSSES
CREDIT ALL INCOMES & GAINS
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / rabi
Personal A/c : Debit the receiver
Credit the giver
Real A/c : Debit what comes in
Credit what goes out
Nominal A/c : Debit Loss and Expense
Credit Profit and Gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Expand-----RTD
If i pay 50% advance to advertise agency towards advertisement expensise, should I deduct TDS on advance payemnt.
Under the SORP, do you have to disclose fees received by a trustee for a professional service even if you have a charging clause in the Governing Document?
business sepsarate entity concepts
whatis meant by contigent liability
MY COMPANEY PROVIDE SERVICES OTHER PARTY BUT OTHER PARTY DEDUCTED TDS SO PASS ENTRY IN A/C
what do you mean by semi-variable cost?
what is the meaning of fbt? tell me diffrent type of fbt rate? & when it will consider in accounting?
What is split shares.....
TDS is for claming purpose or for filing purpose.
Financial Management vs Management accounting?
EXPAND______________RTA
Audit 
