What is the 3 basic rules in accounting by account?
What is the 3 type in basic rules?
Answers were Sorted based on User's Feedback
Answer / daniel job
Personal Rule - Debit the receiver - Credit the giver
Real Rule - Debit what comes in - credit what goes out
Nominal Rule - Debit the Expenses and losses - Credit the
income and gains.
Is This Answer Correct ? | 10 Yes | 1 No |
Answer / abhishek srivastava
1.Debit what comes in
Credit what goes out.
2.Debit the reciver
Credit the giver
3.Debit all expenses and loses
credit all gains and income
Is This Answer Correct ? | 9 Yes | 1 No |
Answer / yogesh shinde
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 and losses Credit
all gains and incomes
Examples Respectivesly:
1. Bank,Mr.Yogesh, Bajaj co.ltd,hospitals,etc.
2. Furniture, Machinary, Building, cash etc.
3. Dividend,commision , interst etc.
Is This Answer Correct ? | 7 Yes | 1 No |
Answer / guest
There are 3 types of accounts namely
1.Personal account
2.Nominal account
3.Real account
Rule for personal account
*debit the receiver
*credit the giver
Rule for nominal account
*debit all expenses & losses
*credit all incomes &gains
Rule for real acount
*debit what comes in
*credit what goes out
Is This Answer Correct ? | 2 Yes | 0 No |
Answer / s.s.nageswara rao
As per double entry system of accounting three golden rules
are there. which are:-
Debit Credit rule for Personal Accounts:
*Debit the Receiver
*Credit the Giver
Debit credit rule for Real Accounts:
*Debit what comes in
*Credit what goes out
Debit credit rule for Nominal Accounts:
*Debit all Expenses and Losses
*Credit all Incomes and Gains
Is This Answer Correct ? | 1 Yes | 0 No |
when assessing the credit proposal of a prospective borrower if he gets internal rating below the hurdle rate what will you suggest as a banker
what is pripaid expences nd difference bteween pripaid and advance
what will be the journal entry for this transaction? purchased furniture for personal use of rupees 2000. now tell me is it business transaction or a personal transaction??
write an email to custmer
2 Answers JPMorgan Chase, McAfee,
How to answer for the question, tell me about ur project? I mean in which format can i say?
We did promotion activity for X co that co is our client ( S Dr) which we sold tickets through our vendor through out north india ... But those vendors adjusted cash with thir bill and remaining balance we received ,, Ticket amount we paid from our co Bank A/c to our client (S Dr) .the amount is too huge so how can i sort out this in books of acconts ..............
Expand-------ACNS
what is the basic function of accounting?
what is capital market, stock market and share market?
What is Direct Debit
WHAT IS ACCOUNTING?
Expand C C A