Interested to Buy Any Domain ? << Click Here >> for more details...
What are the Golden rules of accounts? with an example?
- 12 Answers
- 54932 Views
- DC, OPI Global, I also Faced
- E-Mail Answers
Answers were Sorted based on User's Feedback
Answer / manoj chandra sharma
there are three types of golden rules apply in accounting:
1) for personal account such as ram a/c,etc
"DEBIT THE RECEIVER,CREDIT THE GIVER"
2) for real account which are related to assets
"DEBIT WHAT COMES IN,CREDIT WHAT GOES OUT"
3) for nominal account which are related to expense,income
"DEBIT ARE ALL EXPENSES AND LOSSES,CREDIT ARE ALL
INCOME AND GAIN"
| Is This Answer Correct ? | 393 Yes | 18 No |
Answer / neeraj kumar soni
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-receiver}
{Credit-giver}
| Is This Answer Correct ? | 139 Yes | 4 No |
Answer / indrani .h.r.
THREE TYPES IN GOLDAN RULS OF ACCOUNTING. AS ARE FALLOWES,
1) REAL ACCOUNT :-
DEBIT WAHT COMES IN
CREDIT WHAT GOES OUT.
2) PERSONAL ACCOUNT :-
DEBIT THE RECEIVER
CREDIT THE GIVER .
3) NOMINAL ACCOUNT :-
DEBIT ALL EXPENSES AND LOSSES
CREDIT ALL INCOMES AND GAINS .
THESE THREE ACCOUNTS AS CALLED AS GOLDEN WORDS AND GOLDEN
RULES OF ACCOUNTS.
| Is This Answer Correct ? | 97 Yes | 5 No |
Answer / narayanan gokuldoss
Personal Accounts : Debit the receiver
Credit the giver
Real Accounts : Debit what comes in
Credit what goes out
Nominal Accounts : Debit all expenses and losses
Credit all incomes gains
| Is This Answer Correct ? | 68 Yes | 2 No |
Answer / kumar
if the purchase made means the entry is
purchase a\c
to cash
| Is This Answer Correct ? | 55 Yes | 10 No |
Answer / anowar hossain
----------------------------------------------------
Real account - "Debit- what comes in"
"Credit-what goes out"
Example : Cash, Building, Land etc.
----------------------------------------------------
Nominal account - "Debit-all expenses and losses"
"Credit-all incomes and gains"
Example : SBI, The univercity of Kolkata etc.
----------------------------------------------------
Personal account - "Debit-receiver"
"Credit-giver"
Example : Salaries, Interest, Recived, Paid etc.
----------------------------------------------------
| Is This Answer Correct ? | 46 Yes | 16 No |
Answer / arthi
Personal A/c
Debit the receiver
Credit the giver
Nominal A/c:
Debit all incomes and losses
Credit all expenses and gains
Real A/C:
Debit what comes in
Credit what goes out
| Is This Answer Correct ? | 37 Yes | 15 No |
Answer / sandip kumar
trasaction:
Purchase shares of Rs. 10K and chq. issued.
Jrnl Entry:
Dont know, plz help me out. Actualy I want to know if any shares,mutual fund or govt. seq. purchased, then it comes under which account i.e real or nominal or personal???
friends plz help me
| Is This Answer Correct ? | 32 Yes | 14 No |
Answer / osama.hunk@gmail.com
securites are treated as asset so its include in
personal a/c securites dr. to bank
| Is This Answer Correct ? | 19 Yes | 10 No |
Answer / karan singh
Real account - "Debit- what comes in"
"Credit-what goes out"
Example : Cash, Building, Land etc.
----------------------------------------------------
Nominal account - "Debit-all expenses and losses"
"Credit-all incomes and gains"
Example : Salaries, Interest, Recived, Paid etc -
-------------------------------------------
Personal account - "Debit-receiver"
"Credit-giver"
Example : .SBI, The univercity of Kolkata etc--------------
--------------------------------------
| Is This Answer Correct ? | 3 Yes | 0 No |
types of tax
what is c form?state with examples?
what is difference among VAT, CST and sale tax
what is exice duty & what are the exicesable goods
HOW TO FILE RETURN- SALARIED PERSON GETTING SALARY 6 MONTH FROM ONE & 6 MONTH ANOTHER COMPANY
0 Answers First National Bank,
what is the rate of interest when an assesse paid tax after the due date in the prescribed time limit?
if we sent our goods for selling purpose to our agents outsight the state, is there any need of sending c form to him or form 38
what is GDP
what is works contract tax? if a contractor made a bill as repairs to machinary 00000000/- service tax 12.36% on 40% on basic value Vat 5% on 60% of the basic value of the bill amount how can i deduct works contract tax? please suggest me?
i ask to i am deposit tds for cash yes / no please tell me
What is the commitment to the bankers against L/C ? They need any colletral Security or any deposit ? What is terms & conditions of L/c?
Can anyone tell me the limit of Professional fees on which service tax is to be charged?
Audit 
