Golden rules of accounting
Answers were Sorted based on User's Feedback
Answer / sachin
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 ? | 6672 Yes | 605 No |
Answer / swapna
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 ? | 3625 Yes | 298 No |
Answer / vishnu vardhan
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 ? | 5744 Yes | 2864 No |
Answer / santosh
Accounting is mainly classified under three categories
which are below,
Nominal Accounting: Debit all Expenses and Losses
Credit all Incomes and Gains
Personal Accounting: Debit the Receiver
Credit the Giver
Real Accounting: Debit What comes in
Credit what goes out.
Is This Answer Correct ? | 1828 Yes | 263 No |
Answer / nageswara rao
Personel a/c : Debit the receiver
Credit the giver
Real a/c : What comes in Debit
What goes out Credit
Nominal a/c : Debit all Loss and Expenses
Credit all Incomes and gains.
Is This Answer Correct ? | 839 Yes | 176 No |
Answer / lucky
real a/c : debit what come in
credit what goes out
nominal a/c :debit all expenses & loses
credit all profit & gain
personal a/c :debit the recevier
credit the giver
Is This Answer Correct ? | 764 Yes | 166 No |
Answer / i a jude hentry
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 ? | 717 Yes | 151 No |
Answer / raju malode
PERSONAL ACCOUNT : Debit the receiver
Credit the giver
(Its is related to peson, firm etc....................)
REAL ACCOUNT : Debit what comes in
Credit what goes out
(Its related to goods, cash etc.......................)
NOMINAL ACCOUNT : Debit all expenses and losses
Credit all incomes and gains
(Its related to incomes and expenditure (both Direct &
Indirect))
Is This Answer Correct ? | 394 Yes | 53 No |
Answer / ganesan jayaraman
Real Account : Debit what comes in
Credit What goes out
Personal Account: Debit the Receiver
Credit the Giver
Nominal Account: Debit all Expenses & Losses
Credit all Income & Gains
Is This Answer Correct ? | 378 Yes | 56 No |
Answer / sankar
Real account :Debit what comes in
Credit what goes out
Personal Account :Debit the receiver
Credit the giver
Nominal Account :Debit all expenses & Losses
Credit all Income & gains
Is This Answer Correct ? | 313 Yes | 57 No |
How many types of account example pls
57 Answers Accenture, Bank Of America, Menson India Pvt ltd, State Bank Of India SBI, Wipro, WNS,
define current assets? asked on 30/7/09
WHAT IS INTEGRAL ACCOUNTING
0 Answers Cognizant, Genpact, Integrated,
What are the Journal Entries posted in the books of a Mutual Fund of a Legal Entity in USA in regular accounting?
who audit the audit firms?
Received from Krishna Murthy Rs 26500/- in full settlement of due Rs 30000/-. Pass entry
Invoice for Rs 492650/- is inclusive of 14.5% VAT. Pl calculate Basic Rate for the material.
Distinguish value andPrice
What is the relationship between, issued share capital, share premium and paid up capital?
Took goods from the shop for use at home. state whether the the following transcation is business transcation or non business transcation? with reson or explaination?
what is the meaning of double entry system & Double entry system?
PAN stands for Permanent Account No A 11 digit PAN have some significance. i.e If a Pan starts from A then A stands for something. Can anybody tell me what the charaters in the PAN whether number or alphabet signify?