what are golden rules of accounting.......?
- 5 Answers
- 8871 Views
- I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / m.shailaja
They are 3 golden rules of accounting
1.Personel Account
Rule: Debit the receiver
Credit the giver
2.Real Account
Rule: Debit what comes in
credit what goes out
3.Norminal Account
Rule: Debit all expenditure and Loss
Credit all Incomes and gains
| Is This Answer Correct ? | 33 Yes | 1 No |
Answer / m.shailaja
They are 3 golden rules of accounting
1.Norminal Account
Rule: Debit what comes in
credit what goes out
2.Real Account
Rule: Debit all expenditure and Loss
Credit all Incomes and gains
3.Personel Account
Rule: Debit the receiver
Credit the giver
| Is This Answer Correct ? | 20 Yes | 16 No |
Answer / shashank mangal
Increase in an asset is debited and decrease in the same
credited.
Increase in a liability is credited and decrease in the
same is debited.
Increse in expenses/losses etc. is debited and decrease in
the same credited.
Increase in a revenue/income/profit etc. is credited and
decrease in the same is debited.
| Is This Answer Correct ? | 2 Yes | 3 No |
Answer / soumitra paul
Real Account:
What comes is debilt, what goes out credit
Personal Account:
Debit is the receiver, credit the giver
Nominal Account:
Debit is losses and expenses, Credit is income gains and
profit
| Is This Answer Correct ? | 3 Yes | 5 No |
Answer / guest
there are three basic rules for accouting that are the main
formulation for accouiting:
1. everything for the receiver should be debit
2. Inome shoule be credit.
3. Expences should br debit.
| Is This Answer Correct ? | 6 Yes | 9 No |
tell the ratio where the numerator and denominator should contain one from asset side and other from liabilities side
sir.i jitendra surati have a query.aboutloss settelment. i have loss of capital rs 26000/ and mr friend have loss of rs106000/- as capital. how to compensate the loss by sharing?how many i have to give to my friend ? (A)26000+106000=132000 and i have to give him 66000? or 40000 rs?
how i got knowledge about custom and excise i want rate list of custome and excise how we summit return of custom and excise , Is it include with ser. tax
service tax form no ? What is CC Limit ? What is branch accounts?
What is difference between NSE and BSE? Which company are include in NSE and which are include in BSE? How do i will cme to now that i have invested in NSE or BSE?
1 Answers Catalyst, Magma Fincorp,
Under the accrual basis of accounting incomes are recognised at the time -------------------
My brother studying B.Com(Comp)third year from Osmania University. He want to be settled in Accounts(Taxetion). Which subjects he have perfect to reach is goal. plz give ur good suggestions...
WHO ARE THE PROMOTERS?
what to carry for interveiw and to prepare ourselves?
How to calculate salary structure( PF, ESI, Gratuity, CCA, HRA, etc)
what is balancesheet adjustment a/c. what is the use of this a/c in sap fico
0 Answers FactSet Systems, Reliance,
Fiscal year variant F1 has 6 posting periods and fiscal year variant F2 has 4 posting periods. The posting have different start and ending dates.assign posting period variant F1 is assigned to leading ledger (0L) and F2 is assigned to the non-leading ledger(N1). You get an error message when making a posting in the non-leading ledger.?( any 1 answer) • The posting period variant of the non-leading ledger and the leading are different • The fiscal year variant of the non-leading ledger and the leading ledger are different • The posting is being made in a special period, but both variants are examples of a shortened fiscal year • The posting period for the non leading ledger group”N1” is closed
Audit 
