Golden rules of accounting
- 369 Answers
- 644634 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 / navdeep singh
personal a/c :debit the recevier
credit the giver
real A/c : Debit what comes in
Credit what goes out
Nominal a/c : Debit all Loss and Expenses
Credit all Incomes and gains.
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / shashi kumar.r
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 gains and incomes
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / ramesh behera
Golden rules of accounting
Personal A/c- Debit the receiver
Credit the giver
personal A/c relalted Ram, gopal Etc for Exp-Purchase goods
purchase from ram on credit in this case Ram is the Pesonal
A/c Rules
purchase A/c Dr
to
Ram A/c Cr
Real A/c-Debit whats comes in
Credit whats goes out
Real A/c Related goods, cash etc For Exp-Purchase furniture.
Rules
Furniture A/c Dr
to
cash
Nomila A/c-Debit All the Expenses & Losess
Credit All the Income & Gains
Nomila A/c Related-Bad debt Bad debt Recovery etc For Exp-
Sales Goods to ram Rs-5000 but received from his Rs-4500.
Rules
Cash A/c 4500 Dr
Bad debt A/c 500 Dr
to
Ram A/c 5000 Cr
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / lakhan
personal a/c debit the recevier
credit the giver
real a/c debit what comes in
credit what gose out
nominal a/c debit all expenses nd loses
credit all profit nd gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / trinath
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 / devraj
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 RECEIVER
CREDIT THE GIVER
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / kalpana dudhate
Real Account : Debit what comes in
Credit what goes out
Nominal Account : Debit all expenses and losses
Credit all incomes and gains
Personal Account : Debit the Receiver
Credit the giver
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / mohammed asim.v
REAL ACCOUNT :DEBIT WHAT COMRS IN
CREDIT WHAT GOES OUT
PERSONAL ACCOUNT :DEBIT THE RECEIVER
CREDIT THE GIVER
NOMINAL ACCOUNT :DEBIT ALL EXPENSES AND LOSES
CREDIT ALL GAINS AND INCOMES
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / raj
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 income & gains
| Is This Answer Correct ? | 0 Yes | 0 No |
Answer / hema
Personal Account - Debit the Receiver
Credit the Giver
Real Account - Debit What Comes in
Credit What goes out
Nominal Account - Debit all expenses and loses
credit all incomes and gains
| Is This Answer Correct ? | 0 Yes | 0 No |
1)What will be the journal entry for these? a) Salary paid to Ganesh b)Sum of Rs 200 realized for sale of old furniture 2)Goods sold on credit for Rs 100
what is LIBOUR
what is portfolio management?
how many accounting standards in india
how to mention last year profit of ay private limited company in current year balance sheet ?
Salry pai dto Sharma debited to Sharma account is it correct.If not correct rectify it
what is the difference between gross profit and net profit?
what is exercise duty how to calculate that and how to update in tally
Expand---------GMT
EXPAND______________ICC
according to double entry system there are three types of account... so what is the nature of suspense account??
if a company has to pay the salary in the month of april for the months of march,apil,and may to a person who joined in the company on 15march. what are the entries for the transaction ?
Audit 
